CAMBRIDGE: Southeast Asia's financial crisis -- leapfrogging from Thailand to Malaysia to the Philippines and Indonesia -- is far more than a serious regional difficulty, as stock market sell-offs from Hong Kong to Frankfurt to New York demonstrate. Populist doubts about the wisdom of globalization are now rumbling across the Pacific and around the globe. After all, the opponents of free trade ask, if Asia's tigers can be brought to their knees by international financial markets, is any developing country safe?
CAMBRIDGE: Southeast Asia's financial crisis -- leapfrogging from Thailand to Malaysia to the Philippines and Indonesia -- is far more than a serious regional difficulty, as stock market sell-offs from Hong Kong to Frankfurt to New York demonstrate. Populist doubts about the wisdom of globalization are now rumbling across the Pacific and around the globe. After all, the opponents of free trade ask, if Asia's tigers can be brought to their knees by international financial markets, is any developing country safe?