The book is interesting because it puts the subprime housing market in this larger context of growing social inequality. This page was last edited on 2 May , at Archived from the original on 13 June
The rapidity with which the crisis happened has prompted Sachs and others to compare it to a classic bank run prompted by a sudden risk shock. However, this hypothesis enjoyed little support among economists, who argue that no single investor could have had enough impact on the market to successfully manipulate the currencies' values. However, the RMB's non- convertibility protected its value from currency speculators, and the decision was made to maintain the peg of the currency, thereby improving the country's standing within Asia.