The Third World Debt Crisis

The third world debt crisis came yes foquet, and they were locked out of the world for about 20, 20 years. All africa defaulted in 19 82. In nineteneighty three, 94, argentina, mexico, brazil defaulted. So what we have is this bizarre sort of reaction to similar problems. We are now going to be more closed. Nationalism is kind of back. The big state is back. And at the same time, there is a four or five year view that inflation might remain quite high in order to reduce the debts that we incurred. I mean, that looks to me like a fairly logical global strategy, and a fairly