Asian economies resilient to financial crisis, but global contagion still threatens.
The article discusses the financial crisis in East Asia that began in Thailand in 1997 and spread to other Asian countries and beyond. It looks at warning signs that predicted the crisis and how those indicators couldn't foresee the current crisis due to changes made in Asian economies after the 1997-1998 crisis. The current financial crisis in Asia was caused by external factors, like the economic downturn in the United States and other advanced nations, affecting Asian countries through reduced imports and capital exports.