Asia's restless, jobless youth The 1997 Asian economic meltdown hit young people the hardest, as they were caught in the first wave of resulting job cuts. And the Asia-Pacific region - where more than half of young jobless people live - has yet to see recovery in this critical area, says a United Nations labor organization. It warns that the situation is a recipe for social unrest.
The dangers of derivatives Derivatives played an unprecedented key role in the Asian financial crisis of 1997, alongside the growth of fund flows to Asian newly industrialized economies, as part of financial globalization in unregulated world foreign exchange, capital and debt markets. And the dangers of derivatives remain, writes Henry C K Liu.
Ravaged Asian nations playing the fooling game Most Asian countries hit hard by the 1997-98 monetary crisis are deluding themselves if they think they have responded properly and effectively to the devastation of their economies. Among them, only South Korea has taken the proper steps in ridding their financial sectors of the biggest problem, non-performing loans, according to a UN report.
Australia's economy to defy pessimists IMG Despite international conditions, Australia's economic prospects may prove more resilient than the consensus of current forecasts. Not only will Australia avoid recession in 2002, but there's a good chance that its currency and financial markets will outperform those of other industrialized nations in the second half of 2002.
Can restructuring revive the Asian locomotive With the effects from the Asian financial crisis lingering and the weakening of the US economy, Asia and the rest of the world are nervously awaiting a resurgence of US demand. They are likely to be disappointed, though. Analysts' optimism that a US upturn is in the cards in the near future seems misguided. However, Asia may be in for another kind of resurgence - fueled by the tried-and-true methods of cost-based restructuring.
East Asian community remains elusive Despite the creation of regional blocs in Europe and the Americas, similar cooperation in Asia remains fiendishly difficult to broker. Besides the fact that the history of integration in Asia has been remarkably short, America has historically considered an Asian cooperation forum to be a threat to its own long-standing prerogatives in the region. But, says a former diplomat who headed an Asian panel on regional integration, progress toward a multilateral mechanism is needed - and, slowly but surely, on its way.
East Asian community remains elusive Despite the creation of regional blocs in Europe and the Americas, similar cooperation in Asia remains fiendishly difficult to broker. Besides the fact that the history of integration in Asia has been remarkably short, America has historically considered an Asian cooperation forum to be a threat to its own long-standing prerogatives in the region. But, says a former diplomat who headed an Asian panel on regional integration, progress toward a multilateral mechanism is needed - and, slowly but surely, on its way.
Asia's restless, jobless youth The 1997 Asian economic meltdown hit young people the hardest, as they were caught in the first wave of resulting job cuts. And the Asia-Pacific region - where more than half of young jobless people live - has yet to see recovery in this critical area, says a United Nations labor organization. It warns that the situation is a recipe for social unrest.
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