Why comparisons with the Asian financial crisis are wrong

The recent tumble in Asian currencies has given rise to concerns that the region could be onthe brink of a repeat of the Asian financial crisis. In general, these suggestions are over the top.There are more differences than similarities between the situation now and the position manyAsian countries found themselves in 1997-98. The exception is Malaysia, where comparisonswith 18 years ago are not completely wide of the mark.