Global Financial Meltdown and the Demise of Neoliberalism
by Prof. Akbar E. Torbat
for Global Research
Center for Research on Globalization

Economic liberalism is a very controversial in political economy. Recent findings show that neoliberalism is not viable. This article reviews the financial crisis in the few but momentous weeks in September and October of 2008 around world and attempts to understand the root causes of the crisis.

Global Banking reshaped
Financial Times

The rising defaults on subprime mortgages in the US triggered a global crisis for the money markets. Many of the world’s leading investment banks have collapsed as a result and the US government has proposed a massive bail-out. The crisis has radically reshaped the global banking sector, as governments and the private sector battle to shore up the financial system. This website brings together coverage of the mounting crisis and its impact on the markets through links to in depth packages, interactive maps, audio, video and blogs.

Global Financial Crisis: Implication to ASEAN
ASEAN Studies Center
Institute of Southeast Asian Studies

The world economy is currently experiencing the worst crisis since the Great Depression. These last two months, major financial institutions in the US and Europe collapsed coupled with massive coordinated actions to inject liquidity into money markets and to restore confidence in the financial systems. There had been strong calls for significant reform of the global financial system. The Group of Eight (G8), joined by major emerging economies such as China, India, and Brazil, will hold a series of summits to forge a new system aimed at preventing financial crises and maintaining global financial stability. This paper focuses on the implications of the ongoing global financial crisis and economic downturn for emerging Asian economies, particularly for Association of Southeast Asian Nations (ASEAN) countries.