A possible reason why China was less affected by the Asian crisis is that its government exerts more influence on financial flows than the governments of other Asian countries.

Question

Quizplus · Accepted Answer

China's government has more control over its financial system, including capital controls and state-owned banks, which helped insulate it from the effects of the Asian financial crisis. Other Asian countries had more liberalized financial systems that made them more susceptible to external shocks.

A Possible Reason Why China Was Less Affected by the Asian