In Search of Pax Americana

Abstract

The recent financial crisis will probably drive the Asian—Pacific countries to seek ways to strengthen the foundations of their independence and their collective defense against attacks by speculators, especially since there is increasing suspicion in the region of the dubious role played by Western speculators. There is also increasing dissatisfaction with the ultimatums issued by the IMF [International Monetary Fund] and the United States and a strengthening conviction that the hard-hit Asian—Pacific countries have basically healthy economies, that the crisis was unleashed mainly by external forces and was a manifestation not only of uncontrolled factors but also of deliberate action.