Synopses & Reviews
Synopsis
In the summer of 1997, a tidal wave of economic problems swept across Asia. Currencies plummeted, banks failed, GNP stagnated, unemployment soared, and exports stalled. In short, the vaunted Asian Economic Miracle became the Asian Economic Crisis--with serious repercussions for nations and markets around the world. While the headlines are still fresh, a group of experts on the region presents the first account to focus on the political causes and implications of the crisis. The events of 1997-98 involved not just property values, financial flows, portfolio makeup, and debt ratios, they argue, but also the power relationships that shaped those economic indicators.As they examine the domestic, regional, and international politics that underlay the economic collapse, the authors analyze the reasons why the crisis affected the nations of Asia in radically different ways. The authors also consider whether the crisis indicates a radical change in Asia's economic future.
Description
Includes bibliographical references (p. 253-268) and index.
Table of Contents
The Asian crisis, democracy, and the end of "late" development / Bruce Cumings -- Asian business networks in transition: or, what Alan Greenspan does not know about the Asian business crisis / Gary Hamilton / Regional up, regional downs / T.J. Pempel -- The determination of financial crisis in Asia / Jeffrey A. Winters -- Free market fancies: Hong Kong, Singapore, and the Asian financial crisis / Linda Y.C. Lim -- The state, democracy, and the reform of the corporate sector in Korea / Meredith Woo-Cumings -- Political institutions and the economic crisis in Thailand and Indonesia / Andrew MacIntyre -- Neither dynamo nor domino: reforms and crises in the Philippine political economy / Paul Hutchcroft - Surviving the east Asian financial storm: the political foundation of Taiwan's economic resilience / Yun-Han Chu -- China: domestic restructuring and a new role in Asia / Barry Naughton.