Asia's economic crisis and the IMF

Article Abstract:

Senior policy-makers at the International Monetary Fund (IMF) alarmed observers during a public forum held in Jul 1995 by asserting that the Southeast and East Asian economic tigers were vulnerable to a similar type of financial crisis that had devastated the Mexican peso in Dec 1994. These senior IMF officials repeatedly alerted various Asian governments during 1995 and 1996, advising them to implement corrective measures, including tax hikes, to prevent the impending economic crisis. However, the Asian tigers scoffed at the IMF's 'apocalyptic' projections and are now paying the price.

International Monetary Fund, International relations

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Bridging Asia's economics-security gap

Article Abstract:

The Asia Pacific Economic Cooperation (APEC) forum will help to fill the gap between the economic prosperity and security position of East Asia. APEC has developed an economic framework to engender regional cooperation and multilateralism. However, the three main powers in the region, China, Japan and US, have failed to achieve a balance in the region. China's growing global clout and economic liberalization have increased its influence over Asian politics. While US wants to regain its economic and political influence, China's global integration will ensure moderate behavior.

Strategic aspects, Asia-Pacific Economic Cooperation

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Economics and security in the changing Asia-Pacific

Article Abstract:

Asia's current economic dynamism is the product of stability that has supported its growth for 50 years, but it poses several challenges for regional security. Leaders have to face the challenges of differential rates of growth amongst countries, economic imbalances, social and environmental consequences of economic success and competition for markets and resources. These can be met by policies such as integrating China, promoting economic openness and a new US-Japan security agreement.

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