BoK’s Kim: Asia was well prepared for market turmoil
Kim Choong-soo, the governor of the Bank of Korea, on Tuesday explained how lessons from the Asian crisis helped prepare policymakers in Asia with an effective response to the recent financial crisis.
"We learn more when something goes wrong than when everything hums along smoothly. We have become more knowledgeable about the global economy through a series of crises," Kim said.
Kim said since the Asian currency crisis in 1997, contagion was quickly understood as a key factor threatening the
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