Washington Report, 2008-06

Abstract

President Bush was upbeat about the outcome of the Summit on Financial Markets and the World Economy, which he convened November 15 in Washington, but careful not to oversell it as the solution to the world's problems. He described the summit as "an important first step" toward reforming financial markets and shoring up the global economy. Seasoned policymakers foresaw this outcome given the enormity of the crisis and the brief run-up to such an important meeting.

Prof. Anne Krueger of the Johns Hopkins School of Advanced International Studies spoke with the U.S. Asia Pacific Council several weeks before the summit. She reflects on the U.S. government's initial response to the financial crisis, what one might expect from the summit, and the impact of the crisis on U.S.-Asia economic relations.