If this happens, we will lose the freedom to run our country's economy and with it our political freedom also. By imposing harsh terms on financial aid to troubled Asian nations, the United States was forcing into submission economic rivals in the region, the People's Daily newspaper said. Analysts said that the downward spiral in currency values was undermining confidence in the ability of governments to restore stability. Now we are seeing domestic capital flight. People just don't trust their policymakers in sorting this mess out.
Creditors can either agree to roll over their loans or face outright default.