Rebuilding Confidence in Asia

Abstract

Thank you, ladies and gentlemen. I am very pleased to have this opportunity to speak to you, the business leaders of Southeast Asia, at this critical moment in the region’s economy. The crisis that began in Thailand has now shaken a number of other economies in the region, and its aftershocks have been felt as far away as Latin America and eastern Europe. Countries that have been accustomed to, in some cases, decades of high growth now face the prospect of a marked slowdown in economic activity. This has prompted some observers to suggest that perhaps the so-called Asian miracle was only a “mirage.”