As noted, the 1997-98 crisis was partly collateral damage caused by China's phenomenal growth; and current anxieties follow a modest easing of Chinese growth.
But even the most modest easing, to permit sales of food and medicine to Cuba, faces uncertain prospects in the Republican-controlled House.
They followed a proposal in February to allow a modest easing of sanctions in exchange for restrictions on Iran's uranium-enrichment programme and more comprehensive inspections by the IAEA.
Western officials had arrived here with guarded optimism that Iran would give a concrete response to a February proposal that would provide a modest easing of sanctions in exchange for restrictions on Iran's supply of enriched uranium.
As a result, the modest easing the bailout initially brought about in the credit markets is now being reversed over doubts about the Treasury's stewardship of the plan.
This is also visible in the firmer pattern in the buyer inquiries series, which has now risen for four months in succession, reflecting in part a further modest easing in credit conditions".
As a result, the modest easing that the bailout initially brought about in the credit markets is now being reversed over doubts about the Treasury's stewardship of the plan.
Expectations for this latest round of negotiations have been modest at best, with little sign that the Iranian government was ready to accept an offer made by the six powers at the last round of talks in February: restrictions on its supply of dangerous enriched uranium in exchange for an initial modest easing of international sanctions, to be followed by further trust-building measures.
Iran's rejection was significant because the proposal, which was made at an earlier round of talks and would have offered Iran a modest easing of sanctions, represented a softened position by the six powers, which had demanded that Iran close its Fordo plant and relinquish its entire stockpile of 20 percent-enriched uranium.
But because the Federal Reserve has made it "completely, unmistakably clear" that it has moved to a policy of a modest easing of credit and because of other considerations, such as the "image of banking," the cut can be justified, he added.
Again, BAE, BAP and BAEI (reflecting the BAE component of BAEI) cause a very modest easing of export price increases.
