Adecade ago, crises in east Asia, Russia and Latin America caused economists to doubt the case for cross-border capital flows. However desirable the mobility of goods and people, mobility of capital was different. But the world ignored the intellectuals. Far from reining in financial globalisation, policymakers let it rip.
十年前，東亞、俄羅斯和拉美爆發的危機，讓經濟學家對支持跨境資本流動的理由產生了懷疑。無論商品和人員的流動多麼合人心意，資本流動卻是另外一回事情。但世人對學界的觀點未予理會。政策制定者們全然未對金融全球化加以約束，而是任其發展。
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