The New World of Debt
Strange, Susan. “The New World of Debt.” New Left Review 230, July/August (1998): 91-114.
An extract from Mad Money (1998) in which Strange focuses on the problems of international indebtedness in the 1990s including the Mexican, Brazilian and Asian debt crises and a discussion of central and Eastern European issues. She suggests that the key problem has not been the indebtedness of poor states itself, but the sorts of credit historically extended and the timidity of the solutions to the problems that have arisen. Noting the missed opportunity of a new Marshall Plan for Eastern Europe, she notes not only is there little agreement on the causes of problems but also little consensus about ‘what is to be done’.
Keywords: Money and Finance