Customer Reviews

From Asian to Global Financial Crisis: An Asian Regulator's View of Unfettered Finance in the 1990s and 2000s

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As a principal in the Asian Crisis, Andrew Sheng had 10 years to reflect on what transpired during that crisis, and was able to look at the current crisis through this prism. Sheng's book links the Asian Crisis and the current crisis in a way that only someone who 'has been there done that' can do. I contributed to extinguishing the fires in Korea after the crisis on behalf of the World Bank, and though that I knew quite a bit. Nevertheless, I learned an awful lot from reading Andrew Sheng's book both factually, as well as his brilliant analytical frameworks to address issues. Sheng reminds us that there has been much talk about financial stability since the Asian Crisis but no concrete actions. Financial policy makers should have been taking numerous actions as a precaution after the Asian crisis but didn't, and as we all know, we are where we are-- in a terrible morass. We keep burying our heads in the sand and no one has yet admitted that they did not do what they were supposed to do to avoid this avoidable crisis. I can go on and on about this whole issue but instead I highly recommend to everyone to read this 'tour de force' linking the current and previous crisis.