However, this is the view of hindsight after all. According to the analysis of economists at the time, the Japanese economy was in a growth stage, and the emerging markets in Southeast Asia were also doing well. Who would believe it at this time that it had been missing for twenty years?

It was not until the outbreak of the Asian financial crisis that Japan's banking problems finally broke out. In November 1997, Japan's first bank bankruptcy occurred. The reason was bad debts caused by the bursting of the real estate bubble.

The bankruptcies of their counterparts also alerted other banks, who accelerated the recovery of funds from Southeast Asia. The Bank of Japan's withdrawal of loans created a sharp credit crunch in Southeast Asia, exacerbating the Asian financial crisis.

When Japan burst its real estate bubble, capital could not find investment channels in Japan, so it could only transfer to emerging markets, thus creating the economic growth of the so-called "Four Asian Tigers".

However, it was also the bad debts caused by the real estate bubble that caused Japan to withdraw overseas capital, causing the Asian financial crisis to get out of hand.

Therefore, the source of the Asian financial crisis is actually Japan. Financial giants like Soros were only a catalyst for the outbreak of the Asian financial crisis. The final blame must be placed on Japan.

…

Li Weidong put forward the conclusion that the Asian financial crisis is about to break out.

However, most of the economists present did not agree with Li Weidong's views.

Although Thailand's economy has grown rapidly in recent years, it is only an economy of 180 billion US dollars after all, and its economic proportion is not high in the Asian economy.

Just a mere adjustment of Thailand's monetary policy will trigger an Asian financial crisis. This is too much fuss!

Moreover, there are no irreplaceable industries in Thailand, and Thailand’s life and death will have no impact on the Asian commodity supply chain.

The next second, several people stood up, intending to ask Li Weidong questions or refute Li Weidong's views.

Those who were about to ask questions did not expect that there would be so many people who were of the same mind. They were all stunned, and then began to give way.

"Professor Liu, please speak first!"

"Academician Wu, I think you stood up first, so you should speak first!"

"My movements are a little slower than Professor Qian, Professor Qian should speak first!"

Li Weidong looked at several people. They were either professors or academicians, all of whom were well-known domestic economists.

In an instant, Li Weidong felt filled with pride.

"This is to argue with other scholars! I have become an economic Zhuge Liang!"
Chapter completed!