POLI 445 Lecture Notes - Lecture 5: 1997 Asian Financial Crisis, Capital Market, Government Debt
27 Mar 2018
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Instead of these states negotiating, they use their power and more divisively force them to make these decisions. The us is so large, the sheer market power other states have to react. Us is a key currency many currencies were pegged to the us currency ppl who were pegged had the control but that is not really a direct impact. Henning is describing more the us is doing this explicitly. More direct us policy makers know that when they shift policies they know that other states have to adjust first. Many cases where the us has wielded its size and weight imf is a concerted effort; the. Us pumps more money in the imf and puts selective conditionality on countries. Us monetary policy changes disrupts smaller countries domestic politics, it might not directly benefit domestic actors. Us changes might not always be good for smaller countries it might be too difficult for them to maintain.
