Eddy Lee, director of studies at International Labor Organization, is author of the just-released book, The Asian Financial Crisis: The Challenge for Social Policy (December, 1998).
Geneva - The financial crisis in Asia has
had devastating social consequences. Massive job losses have occurred,
resulting in at least a three-fold increase in unemployment in Indonesia,
South Korea and Thailand since late last year. More recently, unemployment
has also begun to increase sharply in Hong Kong, Malaysia and Singapore.