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Charlie Rose: Episode #15237
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News & Current Affairs
The Ascent of Money
(Part 4 of 4)
Emerging markets used to be where emergencies occurred. Now, they're where people get rich. In Chongqing, in the heart of western China, Ferguson explores the Chinese financial miracle and what it means for the future of the West. A hundred years ago, globalization meant that Western companies made money out of colonies like Hong Kong. That all came to an end with the First World War; it was not until the 1990s that international capital flows reached their pre-1914 heights. For a time it seemed as if history were repeating itself, with Western investors pouring money into Asian economies. But since the 1997-98 Asian crisis, the tables have turned. In just a few decades, as the Asian economies have boomed, America has become the world's largest debtor, increasingly reliant on Asian savings to finance its consumption. Is this a sustainable arrangement? Or could the special relationship between the United States and the People's Republic of China – what Ferguson calls "Chimerica" – break down with a U.S. recession or a Chinese crash? Summing up the series, Ferguson asks larger questions about the new global economy: How safe are the current structures? Is a global collapse possible? Is the increase in consumer credit destructive? How do we assess the "Ascent of Money" – or money itself?
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The Ascent of Money
'Where did money come from, and where did it all go?'
Tuesday, Jan. 13
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Episode Guide
The Ascent of Money
(Part 4 of 4)
first aired: July 29, 2009 (#104)
Emerging markets used to be where emergencies occurred. Now, they're where ...
(Part 3 of 4)
first aired: July 22, 2009 (#103)
Starting in post-Katrina New Orleans, Ferguson asks why the free market ...
(Part 2 of 4)
first aired: July 15, 2009 (#102)
Why do stock markets produce bubbles and busts? The answer is that they ...
(Part 1 of 4)
first aired: July 8, 2009 (#101)
From ancient Mesopotamia to Renaissance Italy, Niall Ferguson explains ...
Javascript is required to view this web page.
More discussions about
The Ascent of Money
'Where did money come from, and where did it all go?'
Tuesday, Jan. 13
What's your point of view?
Javascript is required to view this web page.
THIS SITE REQUIRES JAVASCRIPT
Please enable javascript in your browser.
Leave this field empty
Name:
E-mail:
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Comment:
characters left
We welcome your comments, and hope to host energetic, civil discussions. As you post, please keep the following in mind:
Keep your comments focused on the topic at hand.
Don't use profanity, personal attacks or hate speech.
Don't promote a business or raise money.
When all else fails, think "Golden Rule": Treat others the way you'd like to be treated yourself.
We reserve the right to remove posts that don't follow these guidelines.
Notify me when there is a new post in this thread.
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Featured video
"Part 4: Planet Finance" ›
More "The Ascent of Money" ›
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