Sheer ignorance by bank managements of the true risks may also have played a role.10 [Slide 9 – Market discipline vs. structure of banks – a “chicken-and-egg” problem to be solved] The too-big-to-fail assumption weakened market discipline, as did the opacity of large, complex financial institutions.
To that end, it is important for Asia to promote further intraregional collaboration based on mutual understanding and respect. Strengthening the bond within Asia will enable the region to contribute to solving global issues. Based on my many years of working with colleagues in Asia, I am confident that the Asian Century will certainly come. Thank you for your kind attention. 6