This volume represents a first dialogue between European and Asian economists concerning the common outlook of the two continents following the financial crisis which struck Asia in 1997.The papers in this volume were presented at the ASEF/CEPII conference in Paris in May 1998, which brought together Asian and European economists and economic practitioners for an open and critical appraisal of the nature and causes of the crisis, and the role which the enhanced Asian-European relationship might have in addressing the future. Several Asian countries and major multi-lateral organisations (the Asian Development Bank, the World Bank, the European Investment Bank, the Bank for International Settlements, and the OECD) were represented.Among the issues addressed are the consequences of the crisis for international trade, investment and growth, at both the regional and the global level, and the architecture of the globalised, international financial system which has undergone a new crisis due to events in Asia. Conclusions are drawn concerning the evolution of the monetary and financial turmoil, and solutions for the future of the region and for its relations with Europe are considered.This volume aims to preserve the lively nature of the discussion and the cultural diversity of the presentations, while capturing the current state of the debate on the crisis.

The Asian financial crisis of 1997-98 shook the foundations of the global economy. What began as a localized currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies, long considered "miracles," respond? How did the United States, Japan and other G-7 countries react to the crisis? What role did the IMF play? Why did China remain conspicuously insulated from the turmoil raging in its midst? What lessons can be learnt from the crisis by other emerging economies? This book provides answers to all the above questions and more. It gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it. The book will be vital to students of economics, international political economy, Asian and development studies.

This important book is set to be a key document for those interested in Indonesia's recent economic and political history. There have been many unanswered questions about exactly how the regional currency crisis snowballed into a full-scale banking crisis in Indonesia, coupled with a total loss of credibility within a short time. This record by the official in the midst of the banking crisis, the ex governor of Bank Indonesia, gives a fuller and intriguing picture of the events, including the actions of President Soeharto, as well as a balanced account of the much criticised interventions by the International Monetary Fund. The author also analyses the lessons for monetary policy to avoid future such crisis. This is essential reading for economists and Indonesia watchers.

This book is more or less a companion volume of the author’s book Introduction to Social Systems Engineering published by Springer in March, 2018. Since social systems engineering is a complex emerging discipline, this book will focus more on the evolution of the concept and the formation process. This is related to the book Introduction to Social Systems Engineering within the context of the author’s working and study experience of around 33 years in engineering and 36 years in policy research and planning at national and regional level.

No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.

The Asia-Europe Meeting (ASEM) is an interregional forum for political dialogue, education and culture, security and business, aimed at enhancing relations between Asia and Europe to achieve a better interregional balance in the spheres of politics, economics and culture. Its members are the seven ASEAN countries and the 15 EU countries. This book addresses three questions of central importance to the ASEM process and to the involvement of the private sector: What role can Europe and Asia play in managing an integrated global economy? What will be the role of the private sector in boosting the ASEM process? And how can the full potential of ASEM be realised? The contributors to the volume are Asian and European academics, politicians and businessmen who have been involved in the process from the very beginning.

This title was first published in 2000: When the second Asia-Europe meeting took place in London in April 1998, the EU's economic motivation of building strong links with Asia was challenged by the ongoing Asian economic crises that broke out in mid-1997. The political and social turmoil that ensued in many East Asian economies not only urges the re-examination of the East Asian economic miracle, but also reprioritizes the regional agenda and thus embarks on a new environment for Asia-Europe co-operation. The impact of this Asian turbulence on the establishment of the long-term Asia-Europe equal partnership in general and the ASEM process in particular are addressed in this book, based on the conclusions of the 1998 Asia-Europe Co-operation Forum. The aim of this book is to examine the background causes, responses, prospects and lessons of the first wave of financial crisis in Southeast Asia, and to then move on to an analysis of developments in Asia-Europe co-operative relations after the onset of the crisis. It examines the importance of continued interregional economic co-operation between ASEAN and the EU, looks at the economic impact of the 1997/98 East Asian financial crisis on the EU and analyzes the economic fabric of ASEM. In the final chapter, the book explores how the ASEM process has furthered the development of interregionalism in world affairs and discusses how the crisis has led to uncertainty for the organization's future development.