Alan Greenspan Asian Quotations

The extent and pace of recovery of Asian economies currently experiencing a severe downturn will have important ramifications for prices of energy and other commodities, the strength of the dollar, and competitive conditions on world product markets,

The remarkable American economy, whose roots are still not conclusively known, and the Asian crises that caught us by surprise, among other humbling experiences, have made policy-makers particularly sensitive to how fast the world can shift beneath our feet,

Before the crisis broke, there was little reason to question the three decades of phenomenally solid East Asian economic growth, largely financed through the banking system, so long as the rapidly expanding economies and bank credit kept the ratio of non-performing loans to total bank assets low,

Although the tendency in recent months toward stabilization in the East Asian economies is encouraging, clearly those economies are not out of the woods, as recent events attest,

only the peripheral winds of the Asian crisis.