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The Origins of the Asian Miracle
Russell, I know you will talk about these structural facilities that led you to think were the reason of the boom and then reason for the bust. But it's my understanding, Russell, that at the time, no one was thinking this way. People explained it via a very different way. Why did they think that the sort of the Asian miracle, to what did they attribute that? So there's something called the fundamentals. And all I was saying is that the fundamental is related to monetary policy. And everyone was saying, no, they're not. They conflated that with the longer term higher structural GDP growth. We'll just buy the growth.