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After the Crisis: The Social Contract and the Middle Class in East Asia

by Nancy Birdsall and Stephan Haggard
published by
Washington, DC: Carnegie Endowment for International Peace, 2000
 on July 17, 2000

Source: Washington, DC: Carnegie Endowment for International Peace, 2000

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 Stephan Haggard emphasize the strategic importance of this emerging middle class in forging an explicit social contract that could benefit all classes.

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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.