The credit crunch may ultimately be remembered as the moment when the centre of financial gravity started to shift.
As we put the finishing touches to this edition of PEI Asia in mid-September, the world was digesting the latest round of horror news from Wall Street. Lehman Brothers bankrupt, Merrill Lynch preparing for a fire sale, AIG seeking a $40 billion lifeline, and all of it going on just days after the rescue of America’s two largest mortgage lenders – breathtaking stuff for sure, and yet another reminder that this financial crisis has some rather special qualities, to put it...
