In Asia in general, she said, “economic fundamentals are stronger and central banks are very vigilant”, a result of the “profound and violent experience” of the Asian financial crisis that erupted in 1997. Policymakers, she said, were willing to take difficult steps to keep inflation and exchange rates under control, even if that meant sacrificing growth by using high interest rates.
https://www.ft.com/content/61752442-...a-eeb7a9ce36e4
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