Table: Backward Flow the Greenbacks
How foreign investors have reacted to global crises since 1977
1978-79 Second oil-price shock Foreigners are net sellers of U.S. securities for six months in 1979
1987 Oct. 17 stock Net $41 billion of U.S. securities market crash are sold in October and November
1990-91 Persian Gulf War Net outflows hit $6.4 billion in two months after Iraq invades Kuwait
1997 Asian currency crisis The flows to U.S. dip briefly
1998 Russian debt crisis, Net outflows of $15.5 billion in Long-Term Capital August-September. By November, Management collapse net investment reaches $54 billion
Data: Morgan Stanley Dean Witter & Co.