Re: US bails out loyal allies

[Michael Pollak <mpollak@xxxxxxxxx>]

On Mon, 28 Jul 2003, Reuters was cited as saying:

> http://onebusiness.nzoom.com/onebusiness_detail/0,1245,207855-3-169,00.html

> "US backing for untouchable allies"
>
> In the depths of Argentina's financial crisis in 2001, US economist
> David Hale suggested Buenos Aires would get Washington to bail it out if
> it could only persuade the American military to set up a base on its
> soil.
>
> Hale was only half-joking.
>
> One of the distinguishing features of all modern financial crises, he
> wrote, is that the United States intervenes aggressively when it has
> military ties with the stricken country.
>
> Thus South Korea won US help during the 1997/98 Asian crisis, but
> Thailand and Indonesia did not.

Does anyone know where Hale wrote this and whether he elaborates at any
length?

Michael