the possibility that the forces from Asia might damp activity and prices by more than is desirable.
We are seeing the first signs of erosion at the edges, especially in manufacturing. That's a signal that the effects of East Asia and Russia on our financial system are increasingly a factor.
Notwithstanding the demonstrable advantages of the new international financial system, the Mexican financial breakdown in late 1994 and, of course, the most recent episodes in East Asia and elsewhere, have raised questions about the inherent stability of this new system,