Speculating on the next World City
Speculating on the next World City
复制标题
猜测下一个世界城市
DOI：
10.1002/9781444346800.ch9
复制
发表时间：
2011
期刊：
影响因子：
--
通讯作者：
M. Goldman
中科院分区：
文献类型：
--
作者：
M. Goldman
尽管最近发生了全球金融危机，但资本正以前所未有的方式涌入印度的城市。奇怪的是，这种飙升很大程度上来自美国对冲基金和衍生品基金，它们是近期全球经济崩溃的主要对手。那些相信“美国故事”的人--美国经济是被过度扩张的新房主拖累的--已经意识到，可调整利率抵押贷款市场只反映了全球整个投机泡沫的一小部分；美国抵押贷款债务价值约10万亿美元，与700万亿美元的衍生品和对冲基金市场相比微不足道。一旦认识到大规模投机是世界银行、投资公司和保险公司赖以生存的基础，各国政府别无选择，只能提供数十亿美元的救助，否则就会冒着经济全面崩溃的风险。9.
In spite of the recent global financial crisis, capital is flooding India’s cities like never before. Curiously, much of the surge has come from US hedge and derivative funds, the chief antagonists of the recent global economic collapse. Those who believed in the “American story” – that the US economy was taken down by overly extended new homeowners – have come to realize that the adjustable rate mortgage market reflected only a tiny fraction of the whole speculative bubble that burst across the world; US mortgage debt was worth about $10 trillion, a drop in the bucket as compared to the $700 trillion derivatives and hedge fund market. Once it became clear that large-scale speculation was the foundation on which the world’s banks, investment firms, and insurance companies stood, governments had little choice but to offer multi-billion dollar bailouts or risk total economic collapse. 9