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First published in Singapore in 2010 by ISEAS Publishing Institute of Southeast Asian Studies 30 Heng Mui Keng Terrace Pasir Panjang Singapore 119614 E-mail: publish@iseas.edu.sg Website: http://bookshop.iseas.edu.sg jointly with Saw Centre for Financial Studies NUS Business School National University of Singapore BIZ 2 Building, #04-01 1 Business Link Singapore 117592 and East Asian Institute National University of Singapore 469A Bukit Timah Road Tower Block #06-01 Singapore 259770 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the Institute of Southeast Asian Studies.© 2010 Institute of Southeast Asian Studies, Singapore The responsibility for facts and opinions in this publication rests exclusively with the authors and their interpretations do not necessarily reflect the views or the policy of the publishers or their supporters. ISEAS Library Cataloguing-in-Publication Data Managing economic crisis in East Asia / edited by Saw Swee-Hock and John Wong. 1. Global Financial Crisis, 2008–2009. 2. Financial crises—East Asia. 3. Financial crises—China. 4. Foreign exchange—Government policy—East Asia. 5. Foreign exchange—Government policy—China. I. Saw, Swee-Hock, 1931– II. Wong, John, 1939– HB3816.5 M26 2010 ISBN 978-981-230-972-3 (soft cover) ISBN 978-981-4311-18-2 (hard cover) ISBN 978-981-4279-01-7 (E-book PDF) Typeset by Superskill Graphics Pte Ltd Printed in Singapore by Utopia Press Pte Ltd ...

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