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N°16

Emerging financial markets

01 May 2000
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Editorial

Arnaud MILLIEN

This issue of Variances is international: you'll discover the experiences of alumni who have chosen to live in Japan, Singapore or New York, Ensae's relations with other European establishments and a special feature on emerging countries,

It was produced thanks to contributions from alumni around the world and in France: I'd like to extend my warmest thanks to all those who contributed their time and ideas to the preparation of this magazine; e-mail was a great help, illustrating just how much the alumni community is alive and well, beyond distances and borders.

Ensae is undoubtedly a school of international stature, and the links it has forged with the LSE have extended to other higher education establishments such as Berlin's Humboldt University, and the universities of Bonn, Barcelona, Brussels and Geneva. In addition, more and more young graduates are choosing to start their careers abroad. You only have to look at the yearbook of the post-97 graduating classes to see the extent of the change,

This dossier is set against this international backdrop. Today, a growing number of strong signals point to a recovery in emerging countries. The Chiang Mai initiative has defined the principles of a monetary defense mechanism that will strengthen regional financial cooperation. Only time will tell whether it will subsequently take the form of a monetary union zone. It is a considerable step forward, and shows that some of the so-called "emerging countries" have gone well beyond this stage.

The very term "emerging countries" will no doubt no longer be used, as it now evokes a period of gold rush; there will surely be a much greater awareness of the specificity of each country. For the more advanced countries, we'll have to speak of consolidating economies.

I wish you all happy reading, and to our fellow expatriates, best thoughts from France!

Arnaud MILLIEN


Summary

Reflexions émergentes Jean-Paul Betbèze
Les financements export Emmanuel Lemoine
Témoignages d'expatriés Pierre DEUSY-FOURNIER (88)