EAI Asia Security Initiative Working Paper No. 1 |
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One of the most conspicuous phenomena in East Asian economic relations in the aftermath of the Asian financial crisis of 1997-1998 is arguably the emergence of what William Grimes calls “East Asian financial regionalism,” which he defines in terms of “[East Asian states’] attempts to reduce currency volatility, to create frameworks to contain financial crises, and to develop local financial markets.”
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