SINGAPORE (July 3): Two decades ago, several Asian economies were shattered by a series of financial, economic and political crises that set the region back badly.

Indonesia, Thailand, Malaysia, South Korea and the Philippines bore the brunt of this crisis, while Singapore also took a brief hit. Today, these countries face a world in which great dangers loom, but also one that could generate huge opportunities.

Have these countries learnt enough lessons so that they can avoid another crisis of the same scale? Do they have what it takes to seize the new, emerging opportunities?

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