Asian "miracle" hits a dip, but hope remains: critics differ on region's fate

Article Abstract:

Asian countries hardest hit by the currency turmoil are preparing for a possible regional recession but analysts are still hoping that the Asian miracle is not over. They argue that whatever the outcome, investors are going to demand higher standards and more legal planning. The National Institute of Economic Industry Research claims that corruption, rising interest rates, and other factors may cause these economies to fail.

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'Arrogant' Asia eats humble pie

Article Abstract:

Asia's economic crisis has forced reform. Bank and trade reform is crucial to economic stability and success. Australian businessmen are also looking at opportunities in developing businesses and predict a demand for Western specialists. Still, Australians will not put all their eggs in Asia's basket, but executives do not believe the resurrection of trade barriers is the answer.

Economic stabilization

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Korea: double the trouble

Article Abstract:

US Assistant Secretary of State of East Asian and Pacific Affairs, Stanley Roth, warns that the economic and security concerns on the Korean Peninsula coupled with economic crisis in Southeast Asia could have a devastating effect on stability and peace. The potential for military action in Korea is the greatest threat to peace in the Asia-Pacific area.

International relations, Security, International, International security, Korea

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