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From one of many world's top historians? a accomplished narrative of the 3,000 years that experience shaped Asia's humans, tradition, and international destiny
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Destined to turn into a reference staple for background buffs and scholars of Asian background, Asia: A Concise background deals readers a panoramic narrative and wealth of element that make the formative classes, key occasions, and personalities from this as soon as distant a part of the realm come alive.
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Extra info for Credit Risk and Credit Access in Asia
57 If countries have deformed state institutions, then it may make more sense to push a larger burden of the risk management responsibility onto the market, albeit regulated by the state. On the other hand, where governments have respected courts and/or substantial administrative capacities, then bureaucratic solutions might also work. 58 Figure 1 can therefore look quite different—and should look quite different—in countries where the state has competently driven economic development, or where the market is vibrant but the state is ossified and corrupt, or where law is a principal ordering mechanism in social relations versus where law historically has been marginal to social and economic control.
51 In practice, it seems that the label “London Approach” is used as a rhetorical shorthand for any more or less voluntary out-of-court workout process, even if the details of the process differ radically from those that made the original Bank of England interventions distinctive. This is not unlike the idiomatic use of “Chapter Eleven” by lawmakers as a form of legitimating any reorganisation provisions in bankruptcy law, no matter how much they deviate from the actual provisions of Chapter 11 in the US Bankruptcy Code.
This report indicates that the strength of export growth and prices is offsetting the rise in oil import costs and having a positive effect on liquidity. Political risk and the threat of terrorism and associated activities remains a stumbling block to effective bank and insolvency risk reform. Anti-money laundering and counter-terrorist funding 44 CREDIT RISK AND CREDIT ACCESS IN ASIA – ISBN-92-64-03597-4 © OECD 2006 (AML/CTF) activities and programmes have been initiated by many banks in the region, focussed on know your client (KYC) policies, and several banks have already suffered penalties through correspondent bank relationships under the USA PATRIOT Act7.