History
Asian economies suffered badly from the East Asian financial crisis in 1997 and subsequently academic research has identified the over-reliance on short term bank financing as a major cause of economic failure. Governments and central banks are keen to encourage the expansion of the Asian bond markets in order to reduce the reliance on short term bank loans and so avoid the economic catastrophe that occurred in 1997/1998.
Read more about this topic: Bond Markets In Asia
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“A great proportion of the inhabitants of the Cape are always thus abroad about their teaming on some ocean highway or other, and the history of one of their ordinary trips would cast the Argonautic expedition into the shade.”
—Henry David Thoreau (1817–1862)
“Postmodernism is, almost by definition, a transitional cusp of social, cultural, economic and ideological history when modernism’s high-minded principles and preoccupations have ceased to function, but before they have been replaced with a totally new system of values. It represents a moment of suspension before the batteries are recharged for the new millennium, an acknowledgment that preceding the future is a strange and hybrid interregnum that might be called the last gasp of the past.”
—Gilbert Adair, British author, critic. Sunday Times: Books (London, April 21, 1991)
“Yet poetry, though the last and finest result, is a natural fruit. As naturally as the oak bears an acorn, and the vine a gourd, man bears a poem, either spoken or done. It is the chief and most memorable success, for history is but a prose narrative of poetic deeds.”
—Henry David Thoreau (1817–1862)