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    Is there any rısk of second wave of crıses?
    (İnönü Üniversitesi İktisadi ve İdari Bilimler Fakültesi, 2009) Yılmaz, Cengiz; Eleren, Ali; İlter, Berfu
    Globalization and the world trade agreement affected the equations in the world trade; and disrupted the existing trade balances severally on the behalf of some Asian countries; mainly China, and against to the western countries; specifically US. Traditionally, in such economical conditions financial weapons; lower interest rates and lower currency values are widely used in east Asia since 1960’s, and proven its success. Because of its success in east Asia, western countries also have implemented lower interest rate and lower currency value policy; especially US, to balance their trade deficit. However US dollars is a reserve currency used all over the world widely by the governments, national and international companies, and even ordinary all citizens; any decline in its confidence would affect (and did affected) all the international markets, unlike other currencies. Today there is a lack of confidence to the reserve currency and the minus real interest rate policies and lower currency value policies critically distracts the existing level of confidence. During the crises central banks pumped liquidation to the markets which could be considered painkilling solution, however permanent solutions like unilateral agreements on international monetary and financial markets that would regulate the irregularities in the international markets are ignored by the international community. Majority of the regulations is being implemented by certain governments but mostly they are in domestic levels and need to be harmonized and adapted within the international level. This study suggests the factors caused to global crises are not completely or partially eliminated. Precautions taken by the governments are mainly concentrates on adapting to the crises environment, rather than providing permanent radical solutions. Some of the solutions like pumping too much liquidation to the markets could be serious problem by themselves and using all the financial ammunition in the first battle would endanger the results of the war (crisis), if there is a second wave of crises.