But "you do need a benign global market to make emerging markets work," he added.
But many inside these Asian nations are wary of efforts to make emerging economies break ranks.
Closer ties are designed to make emerging economies more resilient to financial shocks such as that in 2008, when, he said, world trade almost froze for two months.
We will work to make emerging energy technologies such as solar, wind, and other no- and low-carbon sources more competitive in the marketplace.
Another drug was domestic credit, in particular in Brazil, Turkey and eastern Europe.A new period of impressive paciness is possible, but it depends on policies that will make emerging markets fit for the long run.
If a functioning capital market had existed, remarked Mr Greenspan, the East Asian crisis might have been less severe.Developing deep and liquid corporate-bond markets, in particular, could make emerging economies less vulnerable.
If the dollar levels off versus emerging market currencies next year, it might make emerging market local bonds attractive because the currency risk will be mitigated on lower forex volatility.
Assuming its product is competitive, it can therefore use its capital efficiency to take on bigger and better-funded competitors that wouldn't be able to make emerging markets their worth-while.
I show that learning to make and learning from making emerge together through a situated and embodied interaction among the learner, the materials, the tools and the object in-the-making.
