This paper dissects the Japanese bubble economy in the late 1980’s and early 1990’s and the Asian Financial Crisis in 1997-98 and shows how they shaped Asia’s capacity to deal with and respond to the 2008 global financial crisis. It looks at how China emerged seemingly unscathed, but warns that the inroads of speculative financial capital into China and East Asia along with ongoing problems of over-production means that a future financial crisis is highly probable.
This summer, Women Peacemakers Program staff interviewed Ben Hayes, a researcher on topics such as security policy, counterterrorism, border control and surveillance, about his current work. Ben Hayes has been one of the first to research and write extensively on how countering terrorism financing (CTF) policies have been affecting the right to freedom of association and financial access for nonprofits, and the role of intergovernmental institutions such as the Financial Action Task Force (FATF) in these phenomena. In this interview, he talks about how this topic first came to his attention, current trends in trying to craft solutions for the obstacles faced by nonprofits, as well as his take on what it will take to move forward.
This paper focuses on how the global economic crisis unfolded in Europe, where a toxic mix of financial liberalization, highly-leverage banks, a poorly-planned euro and Germany’s years of structural adjustment created a deeply unbalanced and highly indebted European economy, that was brought into sharp focus as Wall Street banks collapsed. The result was the reversal of Europe's economic integration and a state of permanent crisis that continues to this day.