³“The East Asian countries that constitute the class of ’97—the countries that learned the lessons of instability the hard way in the crises that began that year—have boosted their reserves in part because they want to make sure that they won’t need to borrow from the IMF again. Others, who saw their neighbors suffer, came to the same conclusion—it is imperative to have enough reserves to withstand the worst of the world’s economic vicissitudes.” (Stiglitz, 2006, p. 248)