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Mr. Yen Looks at the Asian Crisis
Eisuke Sakakibara, Japan's powerful deputy minister of finance, is known
as "Mr. Yen" because his public remarks can often result in
immediate fluctuations in the value of the Japanese currency.
Tokyo - The Asian economy is not melting down.
If anything, we are witnessing the end of euphoria and the bursting of
the Asian bubble. Further, this is not an Asian crisis, but a crisis of
global capitalism involving both borrowers and lenders, including Japanese
creditors. And it has mostly been a private-sector crisis, not a government
crisis. In fact, management of the public sector has been relatively healthy.
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