Globalization can be both a threat and opportunity. Lessons from the Asian crisis provided a framework to improve national policies of Asian countries and the international financial system to achieve the promise of globalization.
                                ----- World Wide Development

What is globalization?

• increased integration of economies around the world through trade and financial flows
• movement of labor and technology across international boundaries

What have we gained?

• Integrated economies saw faster growth and reduced poverty
• Outward-oriented policies brought dynamism and prosperity to much of East Asia (one of the poorest areas of the world four decades ago)
• Living standards rose and environment and work standards improved

What are the costs?

• Globalization made macroeconomic management difficult
• Crises happened in succession during the 1990s: Mexico, Thailand, Indonesia, Korea, Russia, and Brazil.

What will be discussed?

Domestic and international issues related to globalization in Asia

How economies can enhance participation in globalization

How to maximize gains from globalization and reduce costs