Jan
13
Asia’s Future and the Financial Crisis
by McKinsey from FindarticlesThe collapse of Lehman Brothers triggered a global credit shock that struck with surprising force in Asia. Before Lehman’s failure, many looked to the region as a bastion of economic stability. After all, Asia had high growth rates, large trade surpluses, and substantial foreign reserves. Its large companies were well capitalized and the books of its banks mostly free of the subprime loans and doubtful investments afflicting their Western peers.
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