Financial Crisis in Far East & South East Asia and Japanese Aid for Recovery

Abstract

Japan is playing leading role in the revival of small tiger's economics by contributing in various aid programs. Japan's aid for crisis - ridden Asian economics is valued at a total of about $ 80 billion, the programs are administered independently by different agencies: the ministry of foreign affairs, the Ministry of International trade and industry and others. This article is an attempt to identify Japan's policy goals in resolving the economic crunch in the region. Japanese aid for Asian economics is focused to solve the region's weaknesses from long - term perspectives. Japan has also developed more short-term relief programs to aid the weaker segments of society whose basic standards of living -health care, education, and the life - have been undermined by crisis. Other urgent - tasks addressed by Japanese aid include the creation of currency stabilization mechanisms that would protect Asian currencies from hedge funds and other international speculators and system for mutual aid within region.