Emerging market financial crises in the 1990s followed a fairly consistent pattern. The country lost access to external financing. The sector of the economy that had a large need for financing – fi…

Or perhaps – with a bit of reverse financial engineering – into “apples, pears, strawberries and all the rest.” Martin Wolf is the latest observer to note that the US has created a lot of financial l…

Maybe the US would be better off if China owned Unocal's Asian oil fields Not economically.  Unocal's oil and gas fields are presumably worth a bit more now than they were last summer.  But strategic…