Attention Conservation Notice: 2600 words reiterating the points made by Reinhart and Tashiro (and also by others like Raghu Rajan) that the East Asian financial crisis of 1997-98 appears to have triggered a permanent downward trend break in economic growth on the Asian Pacific Rim. November 3-5, 2013: Federal Reserve Bank of San Francisco Asia … Continue reading The Long and Large Shadows Cast by Financial Crises: The Future of the European Periphery in the Mirror of the Asian Pacific Rim 1997-98