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Asia must guard against repeat of 1997 financial crisis: Philippine central bank chief
Asia must guard against repeat of 1997 financial crisis: Philippine central bank chief
Asian countries must remind themselves about what happened during the region’s financial crisis in the late 1990s and guard against a recurrence of such shocks, the head of the Philippine central bank said on Wednesday. Before the Asian financial crisis started in 1997, regional economies saw huge capital inflows that prompted the World Bank to describe it as the “East Asian miracle”, Eli…