Asian Financial Crisis英文.pdfVIP

THE ECONOMIC CRISIS IN EAST ASIA: CAUSES, EFFECTS, LESSONS By Martin Khor Director Third World Network 1. INTRODUCTION The East Asian economic crisis is probably the most important economic event in the region of the past few decades and for the next few decades. Beyond this, there is yet no unanimity about its root causes nor about the solutions. The differences of views are being debated in academic circles and reflected in the media. One thing though is certain: the earlier optimistic expectation that it would last only some months has proved wrong. Instead the financial c