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The Volatility Machine: Emerging Economies and the Threat of Financial Collapse The Volatility Machine: Emerging Economies and the Threat of Financial Collapse by Michael Pettis
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“In July 1997, the Thai currency, the baht, was forced to devalue, initiating a startling series of Mexico-like crises that over the next few months engulfed the economies of Thailand, Indonesia, Malaysia, and the mighty South Korea.”
Michael Pettis, The Volatility Machine: Emerging Economics and the Threat of Financial Collapse