December 12, 2017
Shaping the Asia-Pacific Economic Order
By Robert A. Manning and Olin Wethington
Twenty years after the Asian Financial Crisis, Asian economies are buoyant, working with a smartly reformed IMF to brace for future crises, and rhetoric aside, it will a while before China’s RMB challenges the US dollar as the world’s first reserve currency. But the risk of regional financial efforts in Europe and Asia leading to a fragmentation of the global financial system still may be only one global crisis away.