{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: GREENSPAN ARGUES AGAINST RESTRICTING GLOBAL INVESTMENTS' data-url='/boclips/videos/5c54c2d5d8eafeecae15cb40' data-video-url='/boclips/videos/5c54c2d5d8eafeecae15cb40' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: GREENSPAN ARGUES AGAINST RESTRICTING GLOBAL INVESTMENTS\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eWashington D-C, USA - 14 October 19971. Greenspan gets out of car and walks through door2. Cutaway press3. Greenspan is introduced4. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman5. Cutaway audience6. Cutaway press7....\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eWashington D-C, USA - 14 October 19971. Greenspan gets out of car and walks through door2. Cutaway press3. Greenspan is introduced4. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman5. Cutaway audience6. Cutaway press7. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman8. Cutaway audience9. Greenspan leaves podium\u003cbr/\u003eEnglish/Nat\u003cbr/\u003eU-S Federal Reserve Chairman, Alan Greenspan, said on Tuesday that it would be wrong to restrict the fast pace of global investments to prevent future currency crises. \u003cbr/\u003eGreenspan said that technological advances had dramatically speeded up financial dealing and that it was now impossible to \"turn back the clock\".\u003cbr/\u003eGreenspan's comments came in a Washington speech as he offered his thoughts on this year's currency crisis in Southeast Asia.\u003cbr/\u003eMuch of the financial world on Tuesday was holding its breath.\u003cbr/\u003eU-S Federal Reserve Chairman Alan Greenspan was in Washington to speak on the global economy. \u003cbr/\u003eOnly last week his negative comments on U-S economic growth had depressed markets. \u003cbr/\u003eBut what he had to say on Tuesday was good news for investors.\u003cbr/\u003eHe said that imposing controls on the billions of dollars of investments made daily would be a mistake.\u003cbr/\u003eBut in the wake of the currency crisis in Southeast Asia, he warned that although developing nations were benefiting from the increased flow of investment they must pay attention to financial policy.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"While there can be little doubt that the extraordinary changes in global finance on balance have been beneficial in facilitating significant improvements in economic structures and living standards throughout the world, they also have the potential for some negative consequences. In fact, while the speed of transmission of positive economic events has been an important plus of the world economy in recent years, it is becoming increasingly obvious, as evidenced by recent events in Thailand and its neighbours and several years ago in Mexico, that significant macro economic policy mistakes also reverberate around the world at a prodigious pace.\"\u003cbr/\u003eSUPERCAPTION: Alan Greenspan, Chairman, U-S Federal Reserve\u003cbr/\u003eGreenspan blamed Mexico and Southeast Asia for obscuring the true state of their economies and thus failing to head off a financial crisis.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The recent financial turmoil in some Asian financial markets and similar events elsewhere previously, confirm that in a world of increasing capital mobility, there is a premium on governments maintaining sound macro economic policies and allowing exchange rates to provide appropriate signals for the broader pricing structure of the economy. As a consequence these countries lost the confidence of both domestic and international investors with resulting disturbances in their financial markets.\" \u003cbr/\u003eSUPERCAPTION: Alan Greenspan, Chairman, U-S Federal Reserve\u003cbr/\u003eGreenspan disputed arguments by Malaysia's prime minister that international currency speculators are responsible for the currency crisis in Southeast Asia.\u003cbr/\u003eHe said any attempt to impose restrictions or controls on financial flows would ultimately have adverse consequences.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv 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