Is bankers' bailout a boon to Red China?

0 Comments | Insight on the News, Feb 16, 1998 | by Timothy W. Maier

Raj Aggarwal, Mellon Chair and a finance professor for Boler School of Business at John Carroll University in Ohio, also sees a major recession hitting Europe and the United States if Congress guts IMF and refuses to wade in with billions. "Communities will suffer more if these countries go into the tank. Our hearts may be in Europe but our wallets are in Asia. We are all going to be facing bleak summers and winters. Globally, it pays to be tied in."

In the end, the IMF debate may come too late, says Bert Ely, a Virginiabased financial consultant. "What we are dealing with is a done deal," he says. "The focus has to be on the future. When the game is over the administration will get something for IMF The U. S. fundamentally needs to restructure IMF by saying you don't get in the club unless you are following policies."

And if that next hazard is Beijing -- it may provide another answer to why Clinton needed to be courted as a comrade to trust by a country sitting on a banking crisis ready to explode.