However, any move to balance interests involves different interest groups and produces a complex picture. So a widely accepted and objective benchmark is needed, and Shibor can take this responsibility. I suggest that more products, from company-wide provident fund, public welfare fund, company-wide trust fund to wealth management products, housing provident fund and broker depository fund shall be linked to Shibor.
But at the same time, weaknesses had been accumulating, such as large current account deficits, high external debt, and massive non-performing loans. When a combination of economic, financial, and corporate problems triggered a sharp loss of confidence and capital outflows from the region, the crisis erupted and countries faced extreme recessions.