Is globalization neoliberal capitalism? In 1998, in response to the Asian crisis that began in Thailand, Alan Greenspan, Chairman of the Federal Reserve, commented: “My sense is that one consequence of his Asian crisis is an increasing awareness in the region that market capitalism, as practiced in the west, especially in the U.S., is the superior model; that is, it provides greater promise of producing rising standards of living and continuous growth.” Citing this, the Financial limes editorializes: