Asia Times Online :: Asian news and current affairs

Asia Times Online :: Asian news and current affairs: "The recent meltdown in global stock markets is the first truly global financial crisis since the word 'globalization' became widely used. While Latin America and Asia suffered in the 1990s, this crisis marks a wider, possibly deeper set of problems underlining how vulnerable the integrated world economy has become to failures in one part of the globe. What began as worry over tremors in the US mortgage market has become a full-blown confidence crisis."