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Source: Getty
Report Examines the Impact of the Asian Crisis on the Middle Class
Source: Carnegie
Full Text (pdf format)
In 1997, East Asia was beset by financial crisis and panic. Despite decades of high and sustained growth, most of these countries had little, if any, form of social insurance to help soften the effects of the crisis.
Whereas the international community focuses predominately on the poor, After the Crisis examines the impact of the crisis on an emergent most urban "striving class". Authors Nancy Birdsall and Shephan Haggard emphasize the strategic importance of this emerging middle class in forging an explicit social contract that could benefit all classes.
Published July 2000
Limited print copies are available.
To request a copy, email mcarlo@ceip.org.
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.