Asian Leaders Meet to Develop Currency Plan
Asian financial leaders, still struggling with the lingering pain of the 1997 crisis, gather in Hawaii this week ready to unveil progress in stitching together a currency safety net to ward off another regional meltdown.
The Asian Development Bank annual meeting in Honolulu from Wednesday to Friday is drawing ministers and central bankers from across Asia, as well as U.S. Treasury Secretary Paul H. O’Neill.
It also is expected to attract thousands of protesters, stoking fears of mass unrest and prompting the largest law-enforcement operation in Hawaii’s history.
Ironically, discussions inside the ADB meeting probably will share several themes with the protests outside--in particular an increasing disillusionment with globalization and growing support for regional solutions to Asia’s problems.
Last year’s ADB annual meeting also was marked by demonstrations by thousands of protesters.
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