Globalization and Economic Growth

Washington Post, August 6, 2007 page A17: Before the crises of the 1990s, economists believed that financial globalization was a good thing. After the crises, the consensus turned; economists reported little to no correlation between openness to global capital and economic growth - not least because their data now included open countries that had experienced growth destroying crises. But, depending on how the next few weeks turn out, the consensus may swing back again. My comment: The expression should be: Delta, delta, delta ad infinitum apropos of the nature of economics. Moreover,we are aware of the fact that US-China/Sino-American Economics would be a part and parcel of financial globalization. Needless to say, US Treasury Secretary Henry Paulson,Jr. plays a significant part for such epoch-making role. That remains to be seen in the days to come. Francis Shieh a.k.a. Xie Shihao. August 7, 2007