Does the Chiang Mai bailout fund matter?

Fearing that the euro-zone crisis could lead to a sharp outflow of capital from Asia, policymakers have sought to strengthen the regional financial safety net. However, Asia is far less vulnerable to financial crisis today than ahead of the Asian Financial Crisis of 1997-98. While concern over the impact of euro-zone break-up is understandable, Asia is resilient enough already to withstand it.

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