Forget the media accolades saying Tim Geithner was the savior of the Asian financial crisis of the late ’90s. Former Aussie Prime Minister Paul Keating says he got it all wrong. In fact, he may have sown the seeds for the financial collapse that transpired a decade later:
Keating went on to argue that, by frightening the Chinese into building their vast $US2 trillion foreign reserves, Geithner was responsible for the build-up of tremendous imbalance in the world financial system. This imbalance, in turn, according to Keating, contributed to the global financial crisis which has since devastated the world economy.
