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Article: Asia fights to survive.(Cover Story)
- Article from:
- The Banker
- Article date:
- February 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Asia feces a massive wave of financial difficulties in the wake of the markets' meltdown. Alison Warner examines recent events in the region and the debate about what went wrong and what needs to be done to bring about recovery
A year ago, a squall in Thailand's financial sector could have been construed as a little local difficulty. Today, the Asian economic miracle is fighting to survive in the face of a tidal wave of looming bad debt, economic difficulties and the threat of social and political unrest.
In the past couple of months, the realisation has begun to dawn that the deepening financial and currency crisis in southeast Asia has serious ...