The EU question (Response to Louis - II)

Julio Huato juliohuato at
Fri May 4 22:00:23 MDT 2001

Mine writes:

>Ironically, the Wall Street bankers, after the crisis, was making the same
>argument as you did-- existence of legal/political obstacles to
>accumulation, crony capitalism, overegulation of banking, etc.. as the
>causes of region's instability (and therefore lack of _good_ capitalism)

If you don't believe me, believe the Wall Street bankers.  They are the ones
who supply the capital that Argentina and Turkey solicit.  Of course, it is
up to these countries (their ruling classes, if you wish) to decide whether
they are willing to remove those obstacles and favor foreing investors (who
are not the only possible sources of investment funds).  But if a group of
influential investors are telling these countries openly the reasons why
investing in them is not so attractive, then who is to say they are wrong
about that?  You?  As forcefully as you contradict them, you'll have to
forgive me if, in trying to understand how things work out in reality, I
rather believe them than you.
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