Since 2008, when Fixing Global Finance was first published, the collapse of the housing and credit bubbles of the 2000s has crippled the world's economy. In this revised edition, Financial Times columnist Martin Wolf explains how global imbalances helped cause the financial crises now ravaging the U.S. economy and outlines steps for ending this destructive cycle -- of which this is the latest and biggest. An updated and expanded conclusion recommends near- and long-term measures to stabilize and protect financial markets in the future. Reviewing global financial crises since 1980, Wolf lays bare the links between the microeconomics of finance and the macroeconomics of the balance of payments, demonstrating how the subprime lending crisis in the United States fits into a pattern that includes the economic shocks of 1997, 1998, and early 1999 in Latin America, Russia, and Asia. He explains why the United States became the "borrower and spender of last resort," makes the case that this was an untenable arrangement, and argues that global economic security depends on radical reforms in the international monetary system and the ability of emerging economies to borrow sustainably in domestic currencies.Sharply and clearly argued, Wolf's prescription for fixing global finance illustrates why he has been described as "the world's preeminent financial journalist."Praise for the first edition"Wolf's analysis fills in a lot of blanks for those seeking to understand the new U.S. recession in a global context." -- Publishers Weekly"This is an ambitious book by one of the most respected financial journalists of our time... He does a terrific job, taking us through the plethora of theories that were put out to explain the imbalances, debunking the more popular but flaky ones with gusto." -- Financial Times"Get the book and expand your understanding of precisely what has brought the United States to its current flirtation with disaster." -- The Desk"An extremely helpful guide to the origins of today's problems and to possible solutions." -- Foreign Affairs"The only inkling of hope is that policy makers everywhere have been so shaken by events that they will heed what Wolf advises. This book is a great and important contribution to everyone's welfare on the globe. It can be paid no higher accolade." -- Guardian"Fixing Global Finance marks a turning point in his worldview... offers important pointers to the way ahead." -- New York Review of Books

马丁·沃尔夫，英国《金融时报》副总编辑和首席经济评论员，英国诺丁汉大学经济学教授。他出版了许多专著，位列美国《外交政策》杂志和英国《展望》杂志评出的“全球100位公共知识分子”。

李耀：经济学博士，现任世界银行集团国际金融公司东亚太平洋局首席投资官员。

卢青：法学博士候选人，现任中信证券股份有限公司副总裁。