HKMA’s Chan: Asian Crisis lessons were forgotten
The international community has failed to learn the lessons from the Asian Financial Crisis and the Long Term Capital Management debacle to make the financial system more robust and safer, said Norman Chan, the chief executive of the Hong Kong Monetary Authority (HKMA).
Chan said as a result, international community was punished, and punished very, very severely. He said the latest financial tsunami, dubbed as a "once in a century" event, has demonstrated that somehow all the key safety valves
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