The financial crisis that engulfed Asian countries in 1997-98 allowed the United States and the International Monetary Fund to attack the East Asian model of development. In return for needed aid, the IMF required the affected Asian countries to implement deregulatory, free-market "reforms" which exacerbated their economic crises and curtailed their economic sovereignty. These countries, including Japan, are resisting U.S. and IMF attempts to dismantle what has been a relatively successful model of economic development.
Associated Press. 1998. Associated Press report. October 2.
2.
Associated Press. 1999. Associated Press report. October 18.
3.
Chang, Ha-Joon. 1997. Perspective on Korea. LATimes. December 31.
4.
Far Eastern Economic Review.1998a. Money Isn't Everything. February 12.
5.
Far Eastern Economic Review.1998b. Fund Under Fire. May 14.
6.
Far Eastern Economic Review.1998c. Losing Faith. October 8.
7.
Far Eastern Economic Review.1998d. Desperate Measures. September 10.
8.
Far Eastern Economic Review. 1999a. January 7.
9.
Far Eastern Economic Review. 1999b. April 8.
10.
Far Eastern Economic Review. 1999c. December 23.
11.
International Herald Tribune. 1999. October 15.
12.
International Monetary Fund. 1998a. The IMF's Response to the Asian Crisis. International Monetary Fund internet site. June 15.
13.
International Monetary Fund. 1998b. The Asia Crisis and Implications for other Economies. Address by Stanley Fischer delivered in Sao Paulo, Brazil. International Monetary Fund internet site. June 19.
14.
International Monetary Fund. 1998c. From the Asian Crisis to a New Global Architecture. Address by Michel Camdessus delivered in Strasbourg, France. International Monetary Fund internet site. June 23.
15.
LA Times.1998. Asia's Woes Prove a Capital Opportunity. October 4.
16.
New York Times.1998. As Economies Fail. October 2: A1/A10.
17.
Reuters. 1999. Reuters news release. September 30.
18.
Rubin, Robert E.1998. Testimony before the House Agriculture Committee. Department of the Treasury, Office of Public Affairs internet site. May 21.
19.
The Economist.1997. New Illness, Same Old Medicine. December 13: 65-66.
20.
Wade, Robert and Frank Veneroso. 1998. The Asian Crisis: The High Debt Model vs. The Wall Street-Treasury-IMF Complex. Russell Sage Foundation (rsage.org) on the Electronic Policy Network.
21.
Yellen, Janet. 1998. Lessons from the Asian Crisis. Address to the Council on Foreign Relations. President's Council of Economic Advisors internet site. April 15.
