Asian Alternatives to the G7 Bank Bailout
For all the excitement from the rescue packages that the United States and Europe have unveiled since the recent G7 summit, it remains unclear whether these lifelines are potent enough to allow banks to quickly recover from the credit crisis. So it might be a good idea to look to Asia to help them get the job done right, both in terms of strategy and funding.
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The trillion-dollar commitments made so far by governments, with the exception of Britain’s, have been biased toward restoring market confidence instead of healing the core of what ails banks. So it might be a good idea for them to look to Asia to help them get the job done, and to do it right, both in terms of strategy and funding.