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Domination of market fundamentalists.

Jakarta Post

| May 29, 2002 | COPYRIGHT 1999 PT Bina Media Tenggara. (Hide copyright information)Copyright

If you look back over the last 20 or 30 years, nearly 100 countries have faced a monetary crisis. Over the last five years, almost all emerging countries have gone through the same crisis: Thailand, South Korea, Indonesia, and now Argentina. No economist is predicting an end to this recurrent crisis; they just wonder which nation will be next.

The world is going through a period of great instability, resulting from high prices and high unemployment rates. Everybody acknowledges that trade agreements are unfair. The North imposed on the South the opening of its market doors, but has kept its own shut to the South, i.e. in the fields of agriculture and textiles. Globalization is not working, because the game rules were set solely by industrialized countries, or worse, by some …

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