Here's an early peak at some possible conclusions. TIE asked eight first- rate experts for the latest handicapping. The mistake was in following wrong-headed global macroeconomic coordination policy advice. The Coming Nippon Juggernaut Forget everything you know about Japan. The system is undergoing a remarkable restructuring revolution.
Consumers clearly benefit from the new financial modernization.
As for the liberated large institutions, the jury is still out. By Robert E. Litan Brave New World, Ready Or Not Thoughts on H.R. 10, U.S. financial modernization, and the drive toward globalization. He warned in our last issue that the agenda for the WTO ministerial should be scaled down sharply to avoid catastrophe. TIE asked the same strategist to outline where things go from here. An important transatlantic struggle is underway with extraordinary implications for bank lending and capital flows.