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Before thdetcrisistr title style

  • 1.

    Capital Inflow from Asia

    • Build up US$ reserves lessons from SE-Asia 97/8

    • Export-friendly exchange rate

  • 2.

    Lax interest policy that ignores bubbles

    • Deflationary threat after bursting of internet bubble

  • 3.

    Originate and distribute banking model

    • Lax lending standards

    • Regulatory arbitrage

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