Case 340 - The Asian Financial Crisis of 1997-1998: Adapting US Intelligence and Policymaking to the Challenges of Global Economics
Does the United States—or any other government—have the tools to stop a looming global economic crisis? This case study investigates the Asian financial crisis of 1997-1998 and the response of the US intelligence and policy community. The Asian financial crisis illustrates the vast range of US and international security challenges that stem from private sector activities operating largely outside of government control—in ways that adversely affect international markets and national economies. This case study offers an overview of the policy measures that successfully stemmed the crisis in Asia, and discusses whether these tools might prevent a similar currency-related meltdown.