Why the Asian Rebound Is Fizzling
INDIA
One of Asia's bright spots provokes economic sanctions by the U.S., Japan, and Germany and the cutoff of World Bank loans by testing nuclear devices. Pakistan may be next.
INDONESIA
Broken pledges by Suharto to implement IMF reforms and riots in Jakarta have sent stocks and the currency into another tailspin, raising investor doubts about stability in the rest of Asia.
JAPAN
What should be Asia's growth engine instead is sliding into recession as Tokyo has ignored pleas to stimulate domestic demand. Now, the dropping yen could deliver another regional shock.
SOUTH KOREA
High hopes of a turnaround after President Kim's election and several successful bond offerings have faded as opposition has hobbled Kim's ability to reform banks and big business groups.
THAILAND
Thailand's exports and stocks have failed to recover despite Bangkok's adherence to the IMF plan. Now Bangkok says its economy will shrink by 7% in 1998, raising doubts about IMF policies.
DATA: BUSINESS WEEK
Return to main story
| 
