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Experts reflect on the lessons of the 1997 Asian financial crisis at a seminar in Yokohama on May 4.
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20 years on, Asia needs stronger defenses against financial crises

Experts say greater cooperation and better monitoring are needed to manage risks

KENTARO IWAMOTO, Nikkei staff writer | Japan

YOKOHAMA, Japan -- In the decades since the 1997 Asian financial crisis, the region has made progress in ensuring financial stability, but closer collaboration is needed to avoid possible risks. That was the key message at a financial experts' seminar held here on Thursday.

The seminar, titled "Twenty years after the Asian Financial Crisis: Achievements and ways forward," was organized by the Japanese government on the sidelines of the Asian Development Bank's annual meeting, which started the same day.

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