The US Needs a Global Line of Credit
Kenichi Ohmae, Financial Times | October 1, 2008
The US is following a pattern similar to Japan’s financial crisis in the 1990s, but ignoring the principles and method with which to handle it. ++ Unlimited liquidity in the market is needed and the world should help share the burden. ++ The US must ask the global community to provide $5 trillion for troubled financial institutions. ++ This should come from those who have collected dollar reserves like China, Japan, Taiwan, Russia, and the EU. ++ Someday, when the crisis passes, a global system must be made to prevent such mistakes.
