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The 1997 Asian Bank Crisis, and Financial Crises of Today

This week’s podcast is a departure; it’s a speech given on 6 September 2007 by Paul Speltz, former U.S. Ambassador to the Asian Development Bank, now President of Kissinger Associates (as in Henry Kissinger, Nixon’s Secretary of State.)  Paul’s address is actually two speeches in one:

  1. An analysis of the 1997 Asian bank crisis and its lessons for today, based on a paper by Andrew Crockett (paper downloadable here.)
  2. His own reflections on trends in Asian economies and banking systems, their relationship with the U.S. economy, the effect of U.S. politics on our vital relationships with Asian economies and nations, the current financial crisis, and other issues.

Long before his career as a U.S. Ambassador, Paul Speltz was a business associate of mine, one of the people who facilitated my family business’ success in the People’s Republic of China in the early 1980’s.  You can learn more about that by clicking here or on the graphic to the right.

It’s a view of the world from a very elevated perch, one that certainly deserves a hearing.


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