Looking back 20 years on: Lessons from the Asian financial crisis

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THIRD WORLD RESURGENCE
Issue No. 321 (May 2017) Click on cover to download the magazine (PDF) COVER: Looking back 20 years on: Lessons from the Asian financial crisis* The Asian financial crisis – 20 years later Twenty years after the Asian financial crisis, have the lessons have been learnt and are the countries of the region vulnerable to new crises? By Martin Khor The Asian financial crisis: Lessons learnt and unlearnt Measures adopted by governments to prevent the recurrence of the last financial crises can actually become new sources of instability and crisis. By Yilmaz Akyüz Why have we not learnt more from the 1997-98 East Asian financial crises? Different, often contradictory lessons have been drawn from the 1997-98 East Asian crises. By Jomo Kwame Sundaram ‘Financial liberalisation’ triggered the Asian financial crisis It was the opening up of the ‘tiger economies’ to freer flows of international finance which knocked them off their growth trajectories and triggered the 1997 Asian financial crisis. By Prabhat Patnaik The Asian financial crisis and the vicissitudes of globalization The 1997 Asian financial crisis and the Great Financial Crisis a decade later have undermined the hegemony of neoliberalism as the defining ideology of the current global economic order. By Chakravarthi Raghavan ECOLOGY 100 companies responsible for over 70% of global greenhouse gas emissions A recent report which reveals a highly concentrated picture of carbon emissions offers hope that the problem of climate change can still be tackled. By Chee Yoke Heong HEALTH & SAFETY New ‘Monsanto papers’ fuel debate over possible chemical cover-up Fresh documents shed light on corporate influence over regulatory bodies, says law firm that released them. By Carey Gillam	WORLD AFFAIRS Trump intel chief: North Korea learnt from Libya war to ‘never’ give up nukes US President Trump’s Director of National Intelligence recently admitted that there is a sound rationale for Pyongyang’s single-minded pursuit of the nuclear option. By Jon Schwarz The mask is off: Trump is seeking war with Iran President Trump is intent on wrecking the nuclear accord with Iran by October with false claims of non-compliance and launching a war against that country. By Trita Parsi Saudi Arabia is buying off and silencing its critics Western politicians, media and think-tanks have acquiesced in the continuing atrocities in Yemen and other human rights violations being perpetrated by Saudi Arabia and its Gulf state allies. By Yasin Kakande Challenging nuclearism: The Nuclear Ban Treaty assessed All nine states with nuclear weapons as well as those living under the ‘umbrella’ of the nuclear-armed states pose a formidable challenge in translating the goal of a nuclear-weapons-free world into reality. By Richard Falk HUMAN RIGHTS By the wayside Since Michel Temer became Brazil’s President in 2016, agribusiness and ranching interests have intensified their efforts to evict indigenous peoples from their ancestral lands. By Eimhin O’Reilly WOMEN Closing the gender gap could add $5.8 trillion to world economy – ILO The latest International Labour Organisation report reveals that half the women worldwide are out of the global labour force despite their clear preference to work at paid jobs. By Kanaga Raja VIEWPOINT The ‘Condition of England Question’ 2017 The Grenfell Tower fire in the London borough of Kensington and Chelsea which broke out in June, claiming some 80 lives, brought to the fore the whole question of the social condition of Britain. By Jeremy Seabrook TRIBUTE To ‘afflict the comfortable’ Remembering Miguel d’Escoto Brockmann, the Sandinista priest and one-time United Nations General Assembly president who died on 8 June. By Jonah Walters POETRY Night rain The poet, dramatist and critic John Pepper Clark-Bekederemo (b. 1935), whose poetry celebrates the physical landscape of Africa, is widely regarded as the most lyrical of Nigeria’s poets. By John Pepper Clark-Bekederemo Third World Resurgence Page
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