There is acknowledgement that the US China trade relationship needs to be rebalanced, but little imagination on how to proceed.  Deep down, our leaders and policymakers have convinced themselves that for all its flaws, the old system was better than anything we are going to think of, and that simply restoring confidence will fix everything, at least for as long as they remain in office. The right lesson from Lehman should be that the global financial system needs major changes in regulation and governance.
США показывали все тревожные признаки глубокого финансового кризиса задолго до краха «Lehman», как Кармен Рейнхарт и я документально зафиксировали в нашей выходящей в свет книге « В этот раз по-другому: восемь веков финансового безрассудства » ( This Time is Different: Eight Centuries of Financial Folly) .