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
Famous quotes containing the word history:
“In nature, all is useful, all is beautiful. It is therefore beautiful, because it is alive, moving, reproductive; it is therefore useful, because it is symmetrical and fair. Beauty will not come at the call of a legislature, nor will it repeat in England or America its history in Greece. It will come, as always, unannounced, and spring up between the feet of brave and earnest men.”
—Ralph Waldo Emerson (1803–1882)
“The best history is but like the art of Rembrandt; it casts a vivid light on certain selected causes, on those which were best and greatest; it leaves all the rest in shadow and unseen.”
—Walter Bagehot (1826–1877)
“We are told that men protect us; that they are generous, even chivalric in their protection. Gentlemen, if your protectors were women, and they took all your property and your children, and paid you half as much for your work, though as well or better done than your own, would you think much of the chivalry which permitted you to sit in street-cars and picked up your pocket- handkerchief?”
—Mary B. Clay, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 3, by Susan B. Anthony and Ida Husted Harper (1902)