This briefing paper about the global crisis and its consequences is mainly intended for the use of non-government development organizations (NGDOs), especially those working in East Asia. The paper intends to help public policy reformers, writers and researchers, educators and trainers, and grassroots cadres or activists have a better grasp of the nature of the crisis and its implications on their work.  The paper also hopes to facilitate public discussion and debate especially involving civil society organizations.

The paper is divided into three general sections, namely:

1)A description and explanation of the financial crisis, its origin and nature.
2)A discussion of a) the initial responses to mitigate the crisis, b) the effects of the crisis and the consequences of the responses, and c) the scenarios at the global, regional, and national levels (including East Asia).
3)An exploration of key issues or challenges that non-governmental development organizations have to address.

The paper does not substitute for a comprehensive and deeper analysis of the issue. The analysis we present is far from being definitive, for the financial and economic crisis remains an unfolding story with many twists and turns. The paper can nevertheless help NGDOs craft appropriate responses to the worst financial and economic crisis since the Great Depression of the 1930s.

Read on (in .pdf, 21 pp.)