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This paper addresses financial stability issues in Asia and the Pacific. The keynote address by the author compares the attractiveness of two different models of commercial banking, specifically the Anglo-Saxon model and the Asian model. The author argues that the Anglo-Saxon model imploded during the crisis for good reasons. The author discusses the potential for a synthesis of the two models as a way forward, drawing on the desirable elements of the Asian model together with desired improvements to the Anglo-Saxon model based on lessons learnt during the crisis.
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