Financial and Monetary Systems

Are we misreading the warning signs in financial markets?

Road signs stand in Mongolia's South Gobi desert, awaiting to be deployed during the development of Oyu Tolgoi copper and gold mine in Mongolia November 10, 2007. Mining firms are telling Mongolia's parliament to unlock the country's mining sector by taking a landmark decision on a multi-billion dollar copper deal. Oyu Tolgoi's potential was enough to make geologists' eyes bulge on a recent tour of the site, where traditional Mongolian white tents stand alongside thousands of crates containing 720 km of drill core -- rock drilled out during the exploration phase. Picture taken November 10, 2007. REUTERS/Tom Miles (MONGOLIA)

Road signs stand awaiting to be deployed. Image: REUTERS/Tom Miles

Ashoka Mody
Visiting Professor in International Economic Policy, Woodrow Wilson School, Princeton University.
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