Asian Crisis 10 Years Later

By Barry Eichengreen
18 June 2007

UC Berkeley economist Barry Eichengreen writes on the current risk of a crisis ten years after the 1997 crisis, finding parallels to the current Asian situation in American economic history. He warns that any future crisis would likely be fundamentally different from the 1997 crisis:

"Ten years after the 1997 crisis, Asia is booming again. It is still at risk but any new crisis will take a different form. The trigger would be a sharp drop in asset valuations that causes China’s investment boom to bust."

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