New Day, New Rules For The G 7

The IMF wasn't designed to handle an Asian-style crisis. Something more is needed

There is a simple lesson in the turmoil roiling the markets this August. "Even the world's largest, most perfect economy is not insulated from external shocks," says David M. Jones, chief economist for New York securities trader Aubrey G. Lanston & Co. "We will pay a price."

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