In light of the current financial crisis, Asia’s economy is suffering too. Haruhiko Kuroda, Asian Development Bank President, discusses Asia’s economic development in light of the current financial crisis, fluctuations in commodity prices, and the environmental challenges that the region currently faces. Prior to his appointment as President of the Asian Development Bank, Haruhiko Kuroda was Special Advisor to the Cabinet of Japanese Prime Minister Junichiro Koizumi, a professor at the graduate school of economics at Hitotsubashi University in Tokyo, and Director-General of the International Bureau (Ministry of Finance). Between 1997 and 2003, Mr. Kuroda helped to design and implement the US $30 billion Miyazawa Initiative, which was Japan’s response to Asian economies hit by the 1997-1998 financial crisis. This event was held by the Asia Society.
Posted: November 7th, 2008
Can Asia Weather the Storm of the Global Financial Crisis?
One Response to “Can Asia Weather the Storm of the Global Financial Crisis?”
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Historically, Asia (except for Japan) has always lagged behind Europe and US in both recessionary trends and recovery, by a year or more. I don’t anticipate it to be any different this time.