Asian financial crisis has exerted a tremendous influence on Asian and world economy since July 1997. China’s malnland has not been involved in the crisis very directly, but impact of the crisis will affect China in a period of time to come because of economic globalization and international trade continues to develop rapldly. How did the crisis comes into being? What kind of emergency measures have been takcn by Asian countries and 1nternatioal community? What are we going to do about this crisis? What lcssons should be drawn from the crisis? and how can financial crisis be nipped in the bud? This paper discusses some of above-described
