Why are developing

countries facing such difficult times vis$--$vis inflation, their access to credit markets, debt expansion, and slowing economies,

while the US can radically expand their own debt without facing such constraints? What can and$/$or should creditor nations do$?$

Explain using the Money Hierarchy perspective and the concept of monetary sovereignty. You may also draw from the Sri

Lankan case. What should the US$,$ China, and IMF do to lessen this brewing global crisis? Do we need a revised Paris Club

$($Club de Paris$),$ a massive liquidity injection, or a Brady Plan $($Brady Bonds for the $21$st Century $|$ Global Development Policy

Center$)$ or something else? The discussions you had on the dollar might also be useful.