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Discusses the financial crisis in Asia as of March 1997 and how countries with vastly different economies are all suffering the same fate. Focus on the many differences among the Asian economies; How these differences will help some countries recover more quickly than others; Details of the best and worst economies in Asia.

The article covers the Asian financial crisis of 1997 and addresses the topic of whether economies in Thailand, Indonesia, Malaysia, Hong Kong, the Philippines, Singapore, Taiwan and South Korea have improved in the last decade. The conditions which led to capital flight of foreign reserves, bank failures and bankruptcies are described. Six measures of governance from the World Bank which measure economic conditions and government policy are cited.

Analyzes the roots of financial crises. One way to improve the capital-flows trade-off-to combine more economic growth with less financial instability-would be to avoid at least some of the financial crises that might otherwise come along. But are they avoidable? They happen so often that it is natural to think that capital mobility and financial distress are inseparable. Most of the scores of financial crisis do have certain central features in common. Banks are almost always deeply implicated when a financial crisis occurs-and banking crises are anything but rare. In addition to weakly regulated banks, most of the crisis countries in East Asia had, in effect, virtually unregulated quasi-banks operating alongside. Any news that spurs a rush of optimism can get things going. One potential catalyst is financial liberalisation, the very thing that first opens the credit taps. Having started, and grown bigger, why does the bubble eventually burst? All it takes is a shift in perceptions, reversing the one that started it all off. This account of the forces that drive the cycle of optimism, overborrowing (especially from abroad), excessive risk-taking and crisis may seem plausible for any given individual economy-but one of the hallmarks of recent financial stress has been its multinational character. One country gets into financial difficulties, then another and another. Financial crises may tend to appear in clusters, but the sources of the problem are fundamentally national in character: that is, they spring from the mistakes of borrowers in, and lenders to, a particular country, not from some global propensity to system-wide breakdown.

Not surprisingly, the countries that have been the most energetic in tackling the disposal of banks' bad loans have also gone furthest in restoring banking systems to health. Two other big banks, nationalized in December 1997 because of the systemic risk their losses posed, were cleaned up, recapitalized and had their management changed. When Housing & Commercial Bank (H&CB), a big mortgage lender, was merging with Kookmin Bank (to form the country's biggest bank, under the Kookmin name), H&CB's boss was held hostage by his employees for two days. In 2002, when private banks scarcely increased their lending, Krung Thai Bank aimed to expand its loan book by eight percent, partly by financing government projects and state enterprises and partly by poaching retail customers from private-sector banks. When the full extent of the financial crisis became clear, banking experts predicted a great wave of cross-border mergers among Asia's banks, offering a once-in-a-lifetime chance for the world's biggest and most powerful banks -- HSBC, Citigroup, Deutsche Bank and the like -- to establish a dominant position in Asia.

Five years after the Asian financial crisis, people are still arguing about what exactly went wrong, and how it should have been put right. But most can agree on the background conditions that led up to the debacle. Financial resources were marshalled by keeping a lid on domestic consumption, and by encouraging the financial sector to channel savings to exporters. During the early 1990s, exports boomed, and both foreign direct investment and portfolio money poured in as financial markets were liberalised. Companies assumed ever higher levels of debt, notably in the form of short-term foreign-currency borrowings, while a rush of foreign money fed stockmarket and property booms. On July 2, 1997, Thailand's government, after futile attempts to stop the capital flight by raising interest rates and selling dollar reserves, allowed the baht to sink. Philippine banks actually have a higher proportion of dud loans on their books now (19 percent of all loans) than during the worst of the financial crisis (15 percent), but elsewhere the burden of bad loans has been passed, at least in part, from the financial sector to the public.

Focuses on the great problems facing the reunification process for Korea. Political and social turmoil in North Korea; The struggles facing South Korea in accepting even a fraction of the North Korean population following eventual reunification; The need for a gradual joining; Encouragement of South Korea of the radical reform needed in North Korea to take some of the burden off the South when the North does collapse; Effects of the Asian financial crisis on both North and South Korea.

Focuses on the need for decisive action by South Korea in the reunification process with North Korea. Danger that the desperate and disintegrating North Korea might attack South Korea with its huge army; Probability that the country will collapse rather than attack, and the problems large numbers of immigrants will cause for South Korea; Damage to South Korea from the Asian market crisis; Economic reform in South Korea.

Examines the factors that have shielded Taiwan from the Asian financial crisis. Conservative government policies; Prudent corporate financial management; Most of Taiwan's exports being with China and the United States; Minimal trade with South-East Asia; How Taiwan's business cycle is out of phase with the rest of Asia.

Presents the arguments of Robert Wade and Frank Veneroso for the establishment of an Asian Monetary Fund (AMF) to handle the region's economic crisis in the late 1990s. Why the International Monetary Fund cannot handle the region; How Asia is different from Western countries; Their savings surplus and high investment; Success of Asian alliance capitalism; How an AMF would build on Asia's savings surplus and other advantages.

Reports on the turmoil in United States stock markets for September of 1998. Fall in the New York Stock Exchange prices and those on Nasdaq; Investors failing to learn any lesson after the markets fell on October 27, 1997; Shares in bank and high-tech companies falling sharply; Professional investors seen as pessimistic due to shares being overpriced and the lack of accounting for the economic crisis in Asia.

Examines factors leading to the financial crisis in Asia as of March 1998. The extravagant expectations about future growth; The cheapening of capital; The large amount of overborrowing; The squandering of money on speculative property investment; The overexpansion of industrial capacity; The fatal combination of pegged exchange-rates and an over-hasty opening of economies to short-term foreign capital; Financial data; Analysis.

Focuses on economic conditions in China as of February 14, 1998. How the country is being affected by East Asia's financial turmoil; The efforts of the government to promote development and growth; The challenges facing attempts to woo foreign investment; The main problems in China's economic policy; Financial data; Analysis.

The article offers information on an exhibition on the Asian financial crisis at Museum Siam in Bangkok until July 2, 2017. It discusses the borrowing behavior of the Asian countries and its impact on liabilities in instances of decrease in exchange rates. It also mentions need to neutralize capital inflows including central bank purchases of foreign-exchange reserves.

The article focuses on economic conditions in Indonesia, under the governance and leadership of Indonesian President Joko Widodo. A brief historical overview on the impacts of the Asian financial crises to the economic stability and development of the country is mentioned. It also highlights country's developmental progress on infrastructure investments and economic reform programs to promote the quality of living in the country.

The article discusses an increase in the number of people who are concerned about Indonesian President Joko Widodo's leadership style as of 2015, and it mentions a decline in the nation's currency, as well as information about loans and the state of Indonesia's economy. Foreign investments in Indonesia are examined, along with Joko Widodo's efforts to reassure foreigners in the wake of an Asian financial crisis in 1997-98 and the Global Financial Crisis of 2008.

The article discusses the economic conditions in Asia and compares its situation with the economic crisis it suffered from 1997 to 1998. Details about Asia's economic reliance on exports and the declining gross domestic products (GDPs) of many Asian nations are provided. The economies of Asian nations are compared with the economies of prominent Western nations.

The article reports that events during October, 2008 in Asian financial markets are very similar to the financial crisis of 1997 and 1998 in Asia. Although Asian banks have grown in size and strength since the late 1990s, they are also more interconnected with the world, and consequently more susceptible to international financial volatility.

China's response to the severe acute respiratory syndrome (SARS) epidemic is being hobbled by a culture of secrecy. Preventing and treating atypical pneumonia, Beijing's Communist Party chief, Liu Qi, told medical experts this week, are "important political tasks." In party-speak, this means the leadership is more worried than it has previously liked to admit about the SARS epidemic. But China's decision to be a bit more open about the problem is doing little to contain the damage. China's response to the SARS epidemic, which has affected at least 2,400 people in Asia and caused 96 deaths (over half of them in mainland China), has been hampered by a secretive political system that is poorly equipped to handle crises and by a health-care system ill prepared to monitor the spread of such a disease. Late last month, after weeks of trying to cover up the epidemic, China changed tack.I t agreed at last to let the World Health Organization visit the worst affected area, Guangdong province. It began providing daily updates on case numbers and admitted that the problem in China was indeed related to the SARS epidemic elsewhere. More than two weeks after reporting its first cases, a start has been made on disinfecting public buildings in Beijing, where local medical workers say there are many more cases than the 22 officially reported.

Five years after Asia's financial crisis, Danaharta, the government agency charged with cleaning up the bad debts of Malaysia's banks, is back where it started. Such suits, brought by jilted banks and recalcitrant borrowers, had delayed debt clean-ups in Malaysia, Thailand and Indonesia following the 1997-98 crash. It had a head start on the Thai Asset Management Corporation (TAMC), which was set up only in 2001, when a new government abandoned its predecessor's policy of leaving bad loans for the banks to sort out. Indonesia's meltdown was so severe that IBRA ended up taking over not only non-performing loans, but also most of the country's banks as well as assets, from hotels to palm plantations, handed over by businessmen in lieu of debt repayment. IBRA has endless tasks: selling loans and assets, managing and restructuring whole business empires, recapitalizing and selling banks and so on.

Reports on economic conditions in East Asian countries. Fears that Asia could slip into a financial crisis; Report from Sun-Bae Kim at Goldman Sachs indicating that a crisis is imminent.

The article focuses on the southeast Asian bond market in 2015 and factors which could impact bond performance. It states from 2005-2014 the annual bond issuance for southeastern Asian nations grew from 38 billion to 109 billion dollars while corporate bond issuance grew from 20 billion to 78 billion dollars. It mentions factors behind the Asian financial crisis of 1997-1998 which was caused by a strengthening U.S. dollar and speculates on the impact increased U.S. interest rates will have.

The article discusses the return of political instability to South-East Asia as of March 2015, and it mentions the turmoil caused by an Asian financial crisis in the late 1990s, as well as unrest and political problems in places such as Thailand and Myanmar. The Association of South-East Asian Nations economic organization is mentioned, along with democratisation, elections, and strife involving ethnic groups in Myanmar. Calls for Filipino President Benigno Aquino to resign are examined.

Focuses on Dongsung Chemical, located in Pusan, South Korea, and the effects of the South Korean economic system following the Asian financial crisis. Its survival of the crisis reasonably well; Lenders who had called in loans by Dongsung instead of the larger companies; Role of the government in following the financial crisis; Steps taken by Dongsung, including the sale of a controlling share of its footware business to Britain's ICI; The struggles of South Korean banks; Reasons for hope in South Korea.

Focuses on the chaebols, family-owned corporations in South Korea, and the financial errors they made. Extensive diversification; Excessive borrowing from banks; Failure in South Korea to connect wage increases to productivity, and subsequent low worker efficiency; Effects of the Asian financial crisis; Unpopularity of such chaebol as Kia Motors, which led the government to create legislation to force more responsible business practices; Efforts to make the chaebol concentrate on a few core businesses.

Comments on the Australian economy as of May 15, 1999. Growth of the economy despite fears that the Asian financial crisis would cause a recession; Budget surplus; Stability of the banking industry; Structural changes that have helped the economy.

Presents information on the online trading company Boom.com in Asia. Discussion on difficulties of online trading in Hong Kong, China; Focus on the financial health of the company; Impact of the Asian financial crisis on the company; Discussion on how the e-broking business has turned out far tougher than anyone expected.

Discusses the state of Asia's property market as of March 1999. How Asia's financial crisis has had a significant impact on the property market; Troubles for the banks that have financed the properties; Thailand's Financial Restructuring Authority (FRA) to auction assets; Amaret Sila-On of the FRA and how he plans to make the auction a success; Graph of the vacancy rates at properties in several Asian countries.

Looks at the government of Thailand's response to the Asian financial crisis. International support for Thailand's economic reforms; How the reforms are not popular in Thailand; Pressure on the coalition government of Chuan Leekpai from the New Aspiration Party of Chavalit Yongchaiyudh; No-confidence motion filed against Chuan's government; Vow of Chuan to retaliate against Chavalit.

Discusses fund managers and why they are used when the majority of the services they provide can be had for free. Their performance during the 1998 Asian financial crisis seen as poor; Performance of individual managers, Jim Cox and Anthony Bolton; Investors becoming more cynical about the funds management industry; Serious fund managers going with stock picks rather than market timing; Details on the industry and its performance.

States that the business empire of Reverend Sun Myung Moon is having financial difficulties. Impact of the Asian financial crisis on Moon; Tong Il Group industries owned by Moon in South Korea that filed for court receivership; Tong Il being one of South Korea's largest conglomerates; Waning efforts of Moon's Unification Church followers in Japan that helped keep the company afloat; Loss of membership in the church; Future plans for the church.

Comments on the decline of the tourist trade in Hong Kong. Large amount of Japanese tourists that used to visit Hong Kong before the Asian financial crisis; Spending of Japanese tourists; Rise of prices in Hong Kong; Closing of Daimaru, a Japanese department store in Hong Kong; Increase in the number of Chinese tourists visiting Hong Kong; Decrease in tourism throughout Asia.

Looks at how Taiwan weathered the Asian financial crisis. 1998 growth rate for Taiwan's economy; Modest losses in the stock market; Reasons why Taiwan survived the financial crisis better than other Asian countries; Low foreign debts; Lowest bad-loan ratio in Asia.

Comments on economic conditions in Taiwan as of 1998. How Taiwan weathered the Asian financial crisis; Sunonwealth being a typical Taiwanese company; Question of why Taiwan survived the financial crisis; Percentage of small to medium-sized enterprises (SMES) that make up Taiwan's economy; Flexibility of SMES.

Presents information on the impact of the Asian economic crisis on the port city of Shantou in the Chinese province of Guangdong. City a special economic zone; The expatriates of city sending back funds and investments; How the collapse of other Asian currencies has hurt their economy; China's reaction to the crisis including lowering the water and electricity prices for factories.

Presents the view of Fred Bergsten that a concerted plan of macroeconomic stimulus must be developed and implemented at the Asia-Pacific Economic Cooperation forum in Kuala Lumpur, Malaysia in November of 1998. Change in the approach to policy needed; The need for a Concerted Asian Recovery Program; How export-led recovery will not work; Details on the Asian financial crisis and how a united effort is needed.

Presents information on Asia's telecommunications market for October of 1998. International companies viewing the Asian companies as takeover targets; How the Asian economic crisis has had an impact on the companies; The damage seen as better than expected; Consequences including accelerated deregulation.

Presents information on the improvements in the economies of Asian countries that suffered from an economic crisis in 1998. Financial panic subsiding; Stocks rising; Interest rates falling; Currencies stabilizing against the American dollar; How the sustained fall of the dollar will help East Asian economies; Improvement in current-account balances.

Presents information on hotels to be built in Las Vegas, Nevada just as the hotel market has become soft in the late 1990s. Construction plans for the Bellagio hotel by Mirage Group, described as the world's most expensive hotel; Other expansive luxury hotels under construction; State of the gaming industry; Market likely to suffer from the decrease in the number of Asian gamblers traveling to the region due to the economic crisis.

Presents information on the economic slowdown in Chile due to the 1998 Asian financial crisis and the possible political implications. Slump in the price of copper; Central Bank raising interest rates; Visible impacts of the economic crisis; Unemployment rate and the expectation that it will rise; Impact of the crisis on the center-left coalition that governs Chile; Benefits for the right-wing elements in the government.

Focuses on the plight of farmers in the United States. Fall in world demand for crops; Low prices; Freedom to Farm Act passed in 1996; Impact of the Asian financial crisis on farmers; Scarcity of storage space for surplus crops; Forecasted farm income for 1998; Drop in the sales of farm equipment; Financial status of farmers; View of farmers that agricultural commodities should be exempt from trade sanctions.

Considers the status of South Korea's exports, in light of the country's devalued currency. The relationship between exports and currency; Exports at South Korean automobile maker Hyundai; South Korea's exports in relation to those of other Asian nations, such as Japan and China; The role that the Asian financial crisis has played in depressing South Korea's exports.

Discusses whether in consideration of the 1998 Asian financial crisis, capital controls would help either to restore stability or to prevent a reoccurrence. How in practice trade protection seems to go wrong; How banks must be prevented from building up risky short-term liabilities denominated in foreign currency; What Asia's economic problems resulted from.

Reports that Taiwan's financial markets are calm due to the efforts of the Central Bank of China to keep the currency steady. Their efforts to stop the slide of the New Taiwan dollar; Prevention of capital flight; Their attempts to keep the currency out of the reach of foreign speculators; Graph of the New Taiwan dollar against the United States dollar; Central bank official calling on corporate treasurers to convert their export earnings.

Reports that the Hong Kong Monetary Authority bought up blue-chip shares in August of 1998 in an attempt to support its stock market. Details on the performance of the stock market; Monetary authority's aim to discourage hedge funds that had been shorting shares; Impact of the Asian financial crisis; Maneuver seen as blemishing Hong Kong's record of non-intervention in the stockmarket.

Presents information on the state of the Asia retail industry and the entrance of western firms in August of 1998. Closure of Yaohan, Daimaru and Matsuzakaya stores in Hong Kong, among other markets; Poor retail market in Hong Kong due to the decline in tourism and a deepening recession; Retail rents falling in Asia; Experienced managers and staff available due to layoffs; Wal-Mart as an example of western stores entering the Asian market.

Reports on the resignation of Japanese Prime Minister Ryutaro Hashimoto. Corresponding rise in stock markets around the world and the steadying of the yen; Rate of decline of Asia's smaller economies; Impact the Chinese economy could have on the region.

Discusses the impact of the Asian financial crisis on China's reforms by Prime Minister Zhu Rongji as of June 1998. The drop in the yen; The concern of foreign analysts about exports, which in 1997 were the main engine of growth; The concern of the sprawling economy; The slow of the gross domestic product (GDP).

Reports that Japanese banks are selling some of their most valuable assets to raise badly-needed capital. Financial crisis in Asia; How this good news for competitors who have been picking up new business; Policymakers in China and Hong Kong worrying that their economies will be badly damaged; Fear of a Chinese slump.

Asserts that if failing Asian economies as of March 1998 are able to make the needed reforms, they will surely recover and may even become stronger than before. Focus on the various changes that will have to take place; Allowing financial markets to allocate capital; Increased standards for making accounting and disclosure in business more transparent; The need to clamp down on corruption and monopolies; Financial data; Analysis.

Reports on an increasing urgency to push forward with economic and political reforms in China following financial crises as of March 1997. Notable issues to be discussed at the meeting of the National People's Congress; The expanding undercurrent of democratization that belies the party's lower ministers; The likelihood that such talk will be quashed by the leadership.