January 9, 2005
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Episode Three: The New Rules of the Game











- Unforeseen risks
- A single market no one controls
- Title sequence
- Who will rewrite the rules?



- America doesn’t intervene
- Indonesia implodes
- Economic colonialism?
- Korea at the brink









- 1992: America’s economy adrift
- Governor Clinton campaigns
- Wall Street’s agenda
- A meeting of minds



- Markets in denial
- Countries do go broke
- Russia defaults
- Panic in action









- Trade becomes the issue
- That giant sucking sound
- Clinton shifts his ground
- Labor betrayed?



- Long Term Capital Management
- Brazil at risk
- Is it over yet?
- Thailand after the fall









- Investment pours into Mexico
- An American boom
- Who wins; who loses?
- The balance of bargaining power



- New risks, new requirements
- Easier said than done
- A new locus for rebellion
- Anti-globalization is born









- Trade goes invisible
- Markets are us
- French culture at risk?
- Pensions must go global



- The streets of Seattle
- A global labor contradiction
- Invisible beneficiaries
- A free-trade double standard?









- Capturing returns
- Opening borders
- No need to be nice
- Thwarting Marx’s predictions



- Clinton in a corner
- Not seeing eye to eye
- Getting off foreign aid
- The World Bank under attack









- Assassinations and revolt
- Capital gets nervous
- Fishing in the Caribbean
- Moral risk in Mexico



- Poverty no one can ignore
- Can a one-world market help?
- Earning legitimacy
- Why is it growing worse?









- Communication explodes
- A borderless world
- Venture’s capital
- Talent flows, too



- A tool for the poor to prosper
- What’s missing in Peru
- Property, law, and trust
- On the slopes of Kilimanjaro









- David Lee goes home
- China’s free-trade zones
- Immigration’s next wave
- Singapore’s “miracle”



- The moral problem
- Snake kids
- Oliver Twist has a television
- Clinton’s farewell









- Invincibility evaporates
- Economic contradictions
- A mountain of bad debt
- Killing off new ideas



- The trade agenda moves forward
- Bush meets Fox in Mexico
- NAFTA plus
- A raison d’etre for the left









- Begging us to borrow
- Flaws in the system
- Building the bubble
- Shorting the baht



- Quebec City, 2001
- The revolution will be streamed
- Protests without solutions
- The wrong diagnosis?












- Things can go in another direction
- Terrorism and recession
- Doha: The next round begins
- Increasing the odds for peace
- Unforeseen risks