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Unit 26 : East Asian Crisis and Lessons for Developing Countries

2. Reform measures : Reform means the improvement or amendment of what is wrong, corrupt, Notes
unsatisfactory, etc. The use of the word in this way emerges in the late 1700's
and is believed to originate from Christopher Wyvill's Association movement
which identified "Parliamentary Reform" as its primary aim.
Reform is generally distinguished from revolution. The latter means basic
or radical change; whereas reform may be no more than fine tuning, or at
most redressing serious wrongs without altering the fundamentals of the
system. Reform seeks to improve the system as it stands, never to overthrow
it wholesale. Radicals on the other hand, seek to improve the system, but try
to overthrow whether it be the government or a group of people themselves.

26.5 Review Questions

1. Discuss the Asian Financial crisis. What were the main issues for this crisis?
2. Briefly explain the developing country crises.
Answers: Self-Assessment
1. (i)(b) (ii)(d)
26.6 Further Readings

1. Krimawati, Wawat. (?) NAFTA: North America Free Trade Agreement. [Accessed
18 May 2009]
2. Vogel, David. (2009) North American Free Trade Agreement. [Accessed 18 May
2009] 2009. North American Free Trade Agreement (NAFTA).
3. United States Department of Agriculture, Foreign Agricultural Service. [Accessed
June 8, 2009]

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