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This volume represents a first dialogue between European and Asian economists concerning the common outlook of the two continents following the financial crisis which struck Asia in 1997. The papers in this volume were presented at the ASEF/CEPII conference in Paris in May 1998, which brought together Asian and European economists and economic practitioners for an open and critical appraisal of the nature and causes of the crisis, and the role which the enhanced Asian-European relationship might have in addressing the future. Several Asian countries and major multi-lateral organisations (the Asian Development Bank, the World Bank, the European Investment Bank, the Bank for International Settlements, and the OECD) were represented.