ASIAN bankers and policy makers have been warned that another financial crisis more devastating than the one in 1997/98 could hit the region if past lessons remain unheeded and the large foreign capital inflows that are returning to Asia evolves into an economic bubble.
Bankers in the region were asked to accept the responsibility of controlling the flood of liquidity that is likely to inundate their economies in the years ahead, said Richard Duncan, author of The Dollar Crisis: Causes, Consequences, Cures and previously a financial sector specialist with the World Bank at the closing session of The Asian Bankers Summit 2003 in Kuala Lumpur yesterday.
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