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Newspaper Article
The Bear's Shadow Is Exaggerated
1998
Overview
The freer trade unleashed by the fall of communism neatly dovetailed with the explosion of technological innovation, and the New Era of eternal economic growth became the rage. Indeed, the entire concept of freer markets is under assault on several fronts. Economists such as Paul Krugman at the Massachuetts Institute of Technology suggest that emerging economies ought to move more carefully as they try to join the richer countries. In Hong Kong, the notoriously laissez-faire government is in a pitched battle with stock speculators. In Russia, of course, whispers of re-nationalization have emerged amid the chaos - and some alarmist commentators contend that Moscow's problems will scuttle the single-currency plan for Europe.
Publisher
Newsday LLC
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