As the crisis developed, it became clear that for some  9  As more international trade takes place in “weightless” technological services and products whose marginal cost is small compared with the average cost, the copyright and patent rules become more important.
Countries which are large producers of high-technology product and intellectual property will be interested in incorporating into the Golden Straitjacket rules which protect their citizens’ commercial position. 10 Singapore and Taiwan provide successful examples - they restrict their banks from lending domestic currency offshore, making it difficult for foreign speculators to “short” the currency. 11 As implied by Friedman’s matrix (1999).