Diagnosis: the origins and underlying causes of the financial crisis  As regards the origins and underlying causes of the current financial crisis, I will focus on three aspects: the role of macroeconomic policies, the role of microeconomic policies including regulation and the role of financial market participants themselves.
Through the 1950s and 1960s, Japan re-emerged as a major economic power. Then Korea took off in the 1970s, followed by other so-called “Asian tigers” during the 1980s and 1990s. Now, it’s China’s turn. And India is not far behind. What makes the ascent of China and India different from that of other countries is their sheer size.