Asia's Economic Crisis: Strategic Implications and Consequences.
Abstract
East Asia in 1997 became the second recent victim of financial crisis following the collapse of Mexico's currency and stock market in 1994. This crisis has since ballooned into a global crisis: Recession grips 50% of the world-including most of Asia, Eastern Europe, Africa, and Latin America, thereby reducing regional stability and security. If this crisis worsens into global depression, it will create an extremely challenging national security environment. This study examines the strategic implications of the ongoing economic and monetary crisis in Asia. It discusses potential shifts in international power relationships among the major countries with interests in Asia. It examines whether shifts in Asian economic power are causing changes in regional balances of power and national security. It assesses the effectiveness of responses by the international organizations and influential policy makers. It asks whether the "crisis" is just a "blip" (transient phenomenon) or even a healthy economic contraction to purge excesses following three decades of prosperity and high growth rates.
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 07, 1999
- Accession Number
- ADA364600
Entities
People
- Robert L. Wohlschlegel
Organizations
- United States Army War College