In June 1997, Thailand's currency became the object of intense speculation as the country's balance of payments was in tatters. Amidst the government's efforts to turn things around, finance minister Dr Amnuay Viravan resigned over policy disagreements and the Thai stock market plunged as investors feared a currency devaluation. As Amnuay's successor, Thanong, tried to pick up the pieces, he uncovered an awful secret: Thailand's central bank had virtually no liquid foreign exchange reserves left to defend its exchange rate. What action should he take? And, more importantly, what action could he take?

A second-generation, multi-billion-dollar Asian family business, run for decades by six brothers, faces issues of ownership, family employment, management, leadership, governance, and succession as it transitions to the third generation of siblings and cousins.

The Japanese banking industry entered a major crisis in the 1990s, as massive nonperforming loans threatened the survival of even the largest banks. This was a far cry from Japan's stellar growth from 1950 and the heady days of spiraling property and stock market prices in the 1980s. Traces the development of the Japanese economy from the end of the Second World War, the role of international trade flows and finance and foreign direct investment as well as the part played by the Japanese banking sector in those developments. By the year 2000, the government had spent trillions of yen in rescue packages, including the nationalization of two of the largest banks, and was attempting to institute banking sector reforms to resolve the crisis.

Daewoo Motors, South Korea's second largest car maker, was on the verge of bankruptcy in September 2000. The once proud Daewoo Group (the parent company of Daewoo Motors) has been charged with not only being reckless in its investments but also fraudulent in its practice. The government must decide whether to bail out the company or let it fail. Given the importance of the company's contribution to the South Korean economy, however, the decision would have a profound impact on the direction of ongoing market reforms as well as the livelihood of its workforce at home and abroad. This case traces the origins and growth of the Daewoo chaebol within the context of South Korea's economic development framework and highlights the advantages and disadvantages of such a system. Designed for an MBA level course in International Business.

At the October 2000 Association of Southeast Asian Nations (ASEAN) Economic Ministers meeting in Chiang Mai, Thailand, the Malaysian delegation proposed an extension to the ASEAN Free Trade Area (AFTA) tariff reduction scheme in an effort to protect Malaysia's auto industry. Given that the development of Proton and Perodua, the country's national cars, has received extensive government support, protection, and preferential treatment, there was concern whether Malaysia's cars would be competitive with other automakers in the region. Malaysia's request for the extension, however, has been a setback for AFTA, which had hoped that a strong push for further liberalization and Asian globalization would reenergize foreign direct investment in the region, following the devastating Asian financial crisis of 1997-99.