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Crisis Regulation in Global Capitalism
by Samuel Decker and Thomas Sablowski Monday Sep 3rd, 2018 8:36 AM
The globalization euphoria waned with the 1997 Asian crisis. Hundreds of billions were needed to bailout bankrupt banks. Capital suffocates in its excess. The US with its high solvent demand stabilized the world economy for a long time, consumed more than it produced and played the role of "consumer of last resort." The US could become indebted in its own currency.