What is Southeast Asian

The financial crisis in 1997 has delivered a phenomenal impact on the economies and threatens their banking and financial sectors. The lessons from the crisis are enormous. The affected countries have very much changed in their fundamentals in managing their economies and their banking sector. These efforts are specifically aimed at ensuring that their economy will be back on track and able to sustain whatever the coming future will be. However, these transformations are again being tested as soon as the global crisis hit the region. The Southeast Asian countries are stronger and proven more prepared in facing this new global crisis. This chapter will look at the background of the 1997 financial crisis and the global crisis. The discussion will allow readers to have a brief understanding of the crises and subsequently extend this knowledge into developing new research idea.