Abstract
T he recent turmoil in the Asian financial markets-the so-called Asian flu or Asian contagion-has led analysts and investors to rethink many of their assumptions with respect to analyzing sovereign and corporate credits, not only in Asia but in all emerging markets. This presentation explores possible causes of the Asian crisis, sets forth some lessons to be learned from the crisis, and provides a regional and country~by-countryoutlook for selected Asian economies.
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