Show Notes
What does the 1997 East Asian Financial Crisis tell us about capitalism and crisis more generally? Should we include it alongside the 1930s, 1970s and 2008 as a major crisis in the history of capitalism? Or does it simply an early symptom of the conditions that eventually gave rise to 2008?
Jomo Kwame Sundaram is a Malaysian economist holding such positions including Visiting Senior Fellow at Khazanah Research Institute, Visiting Fellow at the Initiative for Policy Dialogue, Columbia University, and Adjunct Professor at the International Islamic University in Malaysia. He joins Chris Saltmarsh and Dillon Wamsley to discuss the 1997 Asian Financial Crisis including the role of the IMF in causing it; its experience in Thailand, Malaysia and South Korea respectively; and how we should understand it in relation to the 2008 financial crisis.
Crisis Point is a limited series introducing the political economy of capitalist crises, providing historical and theoretical rigour to discourses around crisis in the present.
Recommended reading for this episode:
1) Jomo Kwame Sundaram (ed.) Tigers in Trouble: Financial Governance, Liberalisation and Crises in Southeast Asia (Hong Kong University Press, 1998) 2) George W. Noble & John Ravenhill (eds.), The Asian Financial Crisis and the Architecture of Global Finance (Cambridge University Press, 2012) 3) Frank Veneroso & Robert Wade, The Asian Crisis: The High Debt Model Versus the Wall Street-Treasury-IMF Complex, New Left Review, I/228 (1998)
Works referenced in this episode:
Robert Wade on East Asia, including the Republic of Korea
This episode is produced by the SPERI Presents… committee, including Remi Edwards, Chris Saltmarsh, Frank Maracchione, Emma Mahoney, Dillon Wamsley and Andrew Hindmoor. This episode was edited by Chris Saltmarsh and Dillon Wamsley. Music and audio by Andy_Gambino. Hosted on Acast. See https://acast.com/privacy for more information. Hosted on Acast. See acast.com/privacy for more information.
More from SPERI Presents...
Why do states carry on extracting fossil fuels amid climate collapse? Why have some pledged to phaseout fossil fuels over the next few decades? Why are supply-side policies important? What will the coming decades of energy politics looks like?
What actually is an electrostate? How do the material substances of electricity and fossil fuels shape state power? Is the US a petrostate and does this question expose the flimsiness of the concept? When we talk about electrostates, do we really just mean China?
Why has the Global South been peripheralized in the study of international political economy (IPE)? What does this cause us to miss in our scholarship? How are sovereignties and power dynamics produced in the Global South? How should teaching IPE change?
How is value constructed and contested in the wine industry? What is the significance of place and nature? What does the win industry tell us about capitalist production in general?
How should we understand the ruptural shift of the second China shock? How does it effect what we thought we knew about China and global production? How can we study this transformation? What comes next?