In Asia, A Lot Of Successful Economies

Devaluations Are Never Easy.

It's Not So Unusual To Run Out Of Someone Else's Currency.

In Asia, A Lot Of Successful Economies That Had Been Living On Their Own Saving, Decided To Open Up Their Financial Markets To International Capital In The Early 1990s. So Here Were Countries Doing Quite Well, But They Decided To Borrow A Bit More And Do Even Better.

The Truth Of Good Economic Doctoring Is To Know The General Principles, And To Really Know The Specifics. To Understand The Context, And Also, To Understand That An Economy May Need Some Tender Loving Care, Not Just The So-called Hard Truths, If It's Going To Get By.

Business Often Does A Good Job Supporting Communities: The Arts, Universities, And Scientific Enterprises... But That Philosophy Has Rarely Reached Poor Countries. Even Businesses That Are Enlightened In Their Home Bases See Africa, Latin America, And Parts Of Asia As Places To Exploit Natural Resources Or Use Cheap Labor.