lbo-talk-digest V1 #2875

Aaron James aaronj at
Thu Apr 20 09:35:23 PDT 2000

We cannot forget that other institutions, specifically the WTO, are threatening the Korean developmental model as well. The role of civil society and union protests to build a social security system has also been systematically undermined by Bretton Woods institutions. But is the alternate - the Asia Monetary Fund - a suitable alternative? Does anyone know whether the proposed AMF would demand the same type of deregulation and liberalization demanded by the IMF? It would certainly sop up some of the excess Japanese capital floating around the region.

At 11:53 AM 4/20/00 -0400, you wrote:
>I don't think you are listening to *me*--you're talking to somebody
>else. I think that the IMF's recommendations for structural changes
>in Korea were mostly wrongheaded. And they have been largely ignored,
>which is a good thing: even if the right reading of Japan since 1985
>is that the East Asian model runs into big trouble when the
>technology gap vis-a-vis the core is no longer large, the East Asian
>model in Korea still has a substantial way to run.
>But--as I said before--to argue that the IMF is imperfect and gets
>things wrong is not an argument that *you* should decide for the
>Koreans to foreclose their option to make use of it...
>Brad DeLong, muttering about a bunch of do-good imperialists...

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