If that were the case, there would scarcely be an international debate on improving transparency in the financial markets. II Certainly, a ‘worst case scenario’ can never be completely ruled out in theory, although a scenario of that kind depends on the interaction of a large number of factors.
BIS Review 105/1998  –2–  Keyword ‘accumulation of slumping economic cycles’ A number of Asian economies are indeed going through a sharp recession at present. Japan, as one of the largest economies in the world, has been suffering for quite some time from a negative business trend and a crisis of confidence caused by structural problems in the financial sector.