The book, the second in a series of books on the late twentieth-century Asian economic and financial crisis, written by international experts on Asian and world economies, provides a follow-up to the previous analysis (The Causes and Impact of the Asian Financial Crisis) which deals with the causes and impact of the turmoil. The crisis first emerged in July 1997 in Thailand, and the world felt its impact and contagion not only in the immediate region but also in other parts of Asia, Russia, Latin America, North America and Europe. A number of international rescue packages or reforms had been formulated by national and international bodies and adopted by the countries in trouble but their effectiveness has been hotly debated. What, then, is the current state of development of the crisis and what are the prospects for Asian and world economies in the first few years of the new century? This book brings together a collection of sound analyses and reliable predictions on these issues and problems, and is a valuable assessment to help business and government throughout the world develop appropriate national and international policies.It will also provide academics, students and all others interested in the subject-matter with a useful overview of the future direction of world economies and the opportunities and challenges on offer.