Number: 98-220 Title: CHINA'S RESPONSE TO THE ASIAN FINANCIAL CRISIS: IMPLICATIONS FOR U.S. ECONOMIC INTERESTS Authors: Wayne M. Morrison, Economics Division Abstract: China's response to the Asian financial crisis has important ramifications for U.S. economic interests. A Chinese currency devaluation could further destabilize other currencies of several East Asian economies, which could significantly affect U.S. trade with the region. China might also choose to respond to the crisis by putting a hold on its plans to liberalize its economy and lower trade barriers. This would likely further complicate China's attempt to join the World Trade Organization and would further strain U.S.-China economic relations. Pages: 6 Date: Updated March 3, 1999