Tag Archives: economic crisis

BOOKS: Thunder From the East

Kristof and WuDunn, both journalists for the New York Times, authored this book about the rise, fall and rise again of East Asia. This book is almost ten years old now, so it’s a bit dated, but remains an great resource of information about Asia as a world mega-power. Kristof, true to his writing style, includes many anecdotes and narratives from his own travels in Asia. Both Kristof and WuDunn have traveled far and wide in the region and, although they acknowledge that Asia can never be fully understood as an outsider, offer some spectacular insight into Asia cultures and practice. For example, they aim to uncover what has held Asia back economically in the past few centuries (political issues, extreme poverty, failure to utilize women as a resource, etc…).

Thunder From the East is a great starting ground for those interested in exactly how, when and where the Asian economic crisis of 1992 started. The husband-wife team literally trace the collapse to a specific date in Thailand in 1992. From Thailand, the money devaluation, uncertainty and chaos began to spread like wildfire around Asia, reaching places like Indonesia and Japan.

Thunder From the East is a good read for a general overview on recent history, culturally and economically, of East Asia with a focus on Indonesia, Thailand, Japan and China. This book is a good springboard into further readings on the 1992 Asian economic crisis, as well as Asia’s position as a global power.