Journal Article
Countering contagion: Does China's experience offer a blueprint?
Abstract: China did not succumb to the Asian crisis of 1997-99, despite two apparent sources of vulnerability: a weak financial system and increased export competition from the Asian crisis economies. This article argues that both sources of vulnerability were more apparent than real. China's experience (especially its use of capital controls) does not offer a blueprint for other countries, because other countries would not want to replicate China's inefficient, non-market-oriented financial system.
Keywords: Banks and banking - China; Economic conditions - China; China;
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 2001
Volume: 25
Issue: Q IV