The impact of the Asia crisis has contributed to the debate about the need for regulation of global markets. This book outlines the events leading up to and during the Financial Crisis of 1997 and assesses the responses of the financial contagion.

This book analyzes the Asian financial crisis of 1997-1999. In addition to the issues of financial system restructuring, export-led recovery, crony capitalism, and competitiveness in Asian manufacturing, it examines six key Asian economies--China, Indonesia, Japan, Korea, Malaysia, and Thailand. The book makes clear that there is little particularly Asian about the Asian financial crisis. The generic character of the crisis became clear during 1998, when it reached Russia, South Africa, and Brazil. The spread of the crisis reflects the rapid arrival of global capitalism in a world economy not used to the integration of the advanced and developing countries. The book makes recommendations for reform, including the formation of regional monetary bodies, the establishment of an international bankruptcy system, the democratization of international organizations, the infusion of public money to revive the financial and corporate sectors in Pacific Asia, and stronger supervision over financial institutions. The book emphasizes a mismatch in Pacific Asia between investment in physical hardware (e.g., factories and machinery) and in social software (e.g., scientific research centers and administrative and judiciary systems). In a world of growing international competitiveness, concerns over governance will weigh increasingly heavily on unreformed Asian countries. The long-term competitiveness of Asia rests on its getting its institutions right.

The novel coronavirus (COVID-19) pandemic was reported in China in December 2019, and later spread to other parts of the world. Countries in Southeast Asia were some of the first nations affected by the pandemic due to their geographical proximities and trade relations with China. In January 2020, the virus spread to some countries within the Association of Southeast Asian Nations (ASEAN). The number of confirmed cases kept increasing within ASEAN and other countries of the world. Consequently, countries in ASEAN introduced preventive and containment measures to cope with the pandemic, which include quarantines, lockdowns, restrictions of movements and large gatherings, as well as school and business closures.Beyond the efforts of preventing and containing the spread of the virus, ASEAN's most significant challenges are the social and economic crisis of historic proportions that are beginning to unfold. COVID-19 pandemic has brought interruptions in all sectors of ASEAN economies. It is, therefore, imperative to assess the extent to which the pandemic has impacted the social and economic aspects of the region. This book intends to highlight the social and economic impacts of the COVID-19 pandemic in ASEAN and suggest ways on how to mitigate them. It covers how the shocks from COVID-19 have impacted production, supply chains, demand, commodity prices, consumer behaviour, financial markets, employment, services, transportation and community, and the various policies that ASEAN authorities should put in place to mitigate the effects of the pandemic.

Drawing on the fields of political economy and historical sociology, Jones dispels the overwhelming consensus among scholars that members of the Association of Southeast Asian Nations (ASEAN) never interfere in the internal affairs of other states, and pioneers a new approach to the understanding of regional politics in Southeast Asia.

The turmoil that has rocked Asian markets since the middle of 1997, and that is now having such deep effects on the economies in the region, is the third major currency crisis of the 1990s. This study explains how the Asian crisis arose and spread. It then outlines the corrective policy measures that could help end the crisis, and the shortcomings that have been revealed in the international financial system that require reform to reduce the chances of a recurrence.

This book incorporates a selection of eight revised papers presented at the Conference on "Managing Economic Crisis in Southeast Asia", organized jointly by the Saw Centre for Financial Studies, NUS Business School and the Institute of Southeast Asian Studies, in January 2010. The chapters deal with the management of the 2008-09 economic crisis in Singapore, Malaysia, Thailand, Vietnam, the Philippines, Indonesia, and the region as a whole. They represent an analysis of the impact of the economic crisis and the stimulus packages that were swiftly put in place by the governments to mitigate the economic recession and to pave the way for a quick recovery. The success of the monetary and fiscal policy measures in engendering a strong economic recovery in these countries is also discussed in considerable depth. The book, with contributions from experts on the topics covered, will be extremely valuable to businessmen, analysts, academics, students, policy-makers and the general public interested in seeking a greater understanding of the sub-prime crisis that led to the global economic recession.

Examines the rapidly expanding economic relations between ASEAN and China in recent years, covering trade, investments, economic challenges, competition and opportunities in the various sectors of the two economies.

The Association of Southeast Asian Nations (ASEAN) is strategically significant because of its size, dynamism, and role in the Asian economic and security architectures. This paper examines how ASEAN seeks to strengthen these assets through "centrality" in intraregional and external policy decisions. It recommends a two-speed approach toward centrality in order to maximize regional incomes and benefit all member economies: first, selective engagement by ASEAN members in productive external partnerships and, second, vigorous policies to share gains across the region. This strategy has solid underpinnings in the Kemp-Wan theorem on trade agreements. It would warrant, for example, a Trans-Pacific Partnership (TPP) agreement with incomplete ASEAN membership, complemented with policies to extend gains across the region. The United States could support this framework by pursuing deep relations with some ASEAN members, while broadly assisting the region's development.

A conceptual study on the economic integration of the new ASEAN Economic Community.

Given the rapid emergence of regional economic arrangements in Asia, especially in Southeast Asia, it is useful to understand clearly what regionalism implies for the region, as well as to take stock as to the far-reaching and complicated effects of formal economic cooperation and integration. This book allows the reader to better understand the relevant international policies of the Southeast Asian economies, and to appreciate the potential lessons for other developing regions. It also focuses on the regionalism trend with an explicit application to ASEAN, as well as the implications of regionalism in the developed countries.The goal of this book is to survey the economics and political economy of regionalism in the ASEAN context from a variety of perspectives and using various techniques, from standard economic analysis of preferential trading arrangements to the political economy analysis of institutions. Its approach is comprehensive in that it includes ASEAN economic integration in the areas of trade, foreign direct investment, and finance. Presentation of the material is designed to be accessible to non-technical audiences without sacrificing the rigor expected by economists and other experts.