Carry Trade and a New Form of Financial Turbulence

At the end of February, global stock markets registered the largest decline since the 9-11 Incident. Just a decade ago in February 1997, international speculators began selling the Thai Baht, and gradually led to the Asian Financial Turmoil - a major incident in 20th century world economic history. It is worthy to compare the recent market turbulence with the past.


http://www.tdctrade.com/econforum/boc/boc070401.htm