Domino Effect: How Lehman's Failure marked the beginning of the End for the Dollar
... affected everyone’s confidence that the system was rock solid, confidence that to this day is not restored. Countries such as China and India, who have depended heavily on the western dominated financial system, began to have second thoughts. Lehman ... ... in one word: Globalization. In India’s case, its rapid integration into the global financial system followed the 1998 financial crisis. It sought to raise its foreign reserves, as did every other emerging market affected by the crisis. So where ...
29.07.2014