"There Is Little Debate in Asia About How Well [the Economic] Stimulus Has Worked..."

David Pilling:

Asia’s Keynesians take pride in prudence: [Asian:] governments have been as bold as any in opening the fiscal sluices. One reason is the bitter memory of the 1997 Asian financial crisis when the International Monetary Fund imposed fiscal austerity on several Asian countries.... According to Fitch Ratings, fiscal stimulus packages as a percentage of gross domestic product amounted to 6.9 per cent for Vietnam, 7.7 per cent for Thailand, 8 per cent for Singapore, 13.5 per...