Human security and Asia’s financial crisis: a critique of Canadian policy

ID:	HARP-149
Title:	Human security and Asia’s financial crisis: a critique of Canadian policy
Source:	International Journal, v.55(3), Summ’00, pg 355-375. CBCA Fulltext: http://delos.lib.sfu.ca:8366/cgi-bin/slri/z3950.CGI/137.82.100.228.350957673/?cbca.db
Parties:
Dispute Resolution Organ:
Year:	2000
Pages:	0
Author(s):
Keywords:	Canada, development, human rights, investment, unemployment, Asian Financial Crisis, civil and political rights, security, liberty
Abstract:	MORE THAN THREE YEARS AFTER the onset of Asia’s financial crisis, several of the region’s economies have been showing signs of recovery. As interest rates continue to decline and exchange rates in the region show signs of strength, many analysts argue that the region is poised to resume its journey towards economic growth and development. Because of improvements in the regional economy, some believe that the worst is over and that standards of living and social conditions in Asia will continue their long march upward. The complete story, however, is less sanguine. In some countries, industrial capacity continues to decline and private investment is far from pre-crisis levels. These persistent challenges promise even more unemployment and continued social difficulties. When coupled with the likelihood of continued economic hardship in some economies through 2000 and 2001, the popular argument that Asia’s economic and political troubles are over seems less convincing as the declining social security/welfare situation is not likely to see consistent improvement.(f.#1) Even if the least afflicted economies manage to post strong growth through the remainder of 2000, their situation will remain precarious, and economic stability will not be assured. Consequently, they will be less able to provide their citizens with the sorts of opportunities for economic advancement that were available prior to the crisis.(f.#2) The absolute number of people living either on or below the poverty line will remain large, and the human welfare challenges posed by the crisis will persist. As a result, Canadian policy-makers will have to remain vigilant and continue to monitor the situation in Asia closely. The purpose of this article, however, is to go beyond the income-related effects of the crisis and draw attention to some of its more specific implications on human security concerns in three Southeast Asian countries – Malaysia, the Philippines, and Vietnam. Using data uncovered during fieldwork – through interviews/consultations with personnel from government, academe, and non-governmental/activist groups, as well as a review of primary and secondary data most readily available in these countries – the article provides a critique of how the Canadian policy establishment conceptualizes and articulates human security in the 1995 foreign policy statement, Canada in the World.
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