Asia in 2000

Asia made waves in the news many times this past year, from dramatic attempts to revocer from the serious economic crisis to Vietnam’s gradually opening markets. We take a look back at the most interesting questions facing one of the world’s most dynamic region.

Is the economic future of Vietnam a capitalist or communist one?

“Vietnam wants to be part of the global economy. People in Vietnam want to make money.”

(Tran Dac Sinh, deputy director of the Vietnamese stock market)

What is the Singaporean idea of a social safety net?

“Employment is the only social safety net we have.”

(Simon Tay, chairman of the Singapore Institute for International Affairs)

What did the U.S. forget could cause the fall of Indonesia’s Suharto?

“We forgot about economic chaos.”

(CIA official, on agency scenarios about how Suharto’s rule might end in Indonesia)

Is Asia prepared to compete with the world?

“Why don’t Europe and America allow free flow of Indian labor? We will accept free competition. We will accept your free flow of capital. Have capital account convertibility. But it won’t happen.”

(Sonpal Shastry, India’s agricultural minister)

How is the situation in Asia’s econommic power house Japan?

“Japan, uniquely among the world’s major nations, has managed to recreate 1930’s economics at the dawn of the 21st century.”

(Economist Paul Krugman)

What will the WTO bring for China?

“China’s accession into the WTO brought one-fifth of humanity into the global economy.”

(Larry Summers, U.S. Secreatry of the Treasury)

What is the state of democracy in Asia?

“It’s easy to talk of perfect democracy when your per capital income is $20,000. Try doing it on $300.”

(India’s chief election officer)

What did Asia have to teach the rest of the world?

“One of the lessons of the Asian crisis is that we should listen better to the people.”

(IMF managing director Horst Köhler)