The market is a strict master and serves painful punishment for mistakes or ill-thought initiatives. BIS Review 55/2002  3
Whatever the reasons, we must endeavour to find a workable solution to narrow the gap or else it will significantly impair Asia’s growth potential as well as constraining the development of Asia’s financial markets. 7. In conclusion, I would say that today’s Conference is very timely as it will discuss the key challenges facing Asia’s finance in the future. Asia is now at a crossroad and we must work together to choose the right path. I have no doubt that this Conference will contribute useful insights and advice on this very important subject. Thank you. 2  BIS central bankers’ speeches