ABSTRACT

Our two final chapters look to the future of finance in Asia, a relatively positive topic at a time of considerable change and uncertainty. Not since July 1944 has the global community of nations tried to plan and integrate major changes to the prevailing international financial architecture. The earlier occasion was dominated by two industrialized economies; today's is the first when several Asian states are fully part of discussions, a contrast explained in Box 12.1. Redrawing the world's financial landscape after the first financial crisis of the twenty-first century focuses on regulation rather than currency stability and is subject to more diverse interests and influence, even if the process is far from fully representative.