In contrast, South Korea’s aggressive post-crisis restructuring of its corporate sector has spurred a more rapid recovery. Most crucially, the Asian Crisis brought down the Suharto Government in Indonesia, and launched Indonesia on a new and uncharted path.
I would like to emphasize the importance of both; that is, internationally common rules on the one hand, and due respect for the differences among countries and institutions on the other. Balance between preventing crisis and containing ripple effects Fourth, balance is needed between policies aimed at preventing crisis and those aimed at containing the ripple effects of a crisis that has already occurred.