{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: ALAN GREENSPAN ASIAN FINANCIAL SITUATION SPEECH' data-url='/boclips/videos/5c54bc84d8eafeecae12d459' data-video-url='/boclips/videos/5c54bc84d8eafeecae12d459' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: ALAN GREENSPAN ASIAN FINANCIAL SITUATION SPEECH\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/NatThe U-S Federal Reserve Chairman on Thursday expressed some optimism that the Asian financial turmoil may be stabilising.In a question-answer session with the American Society of Newspaper editors, Greenspan noted improved...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eThe U-S Federal Reserve Chairman on Thursday expressed some optimism that the Asian financial turmoil may be stabilising.\u003cbr/\u003eIn a question-answer session with the American Society of Newspaper editors, Greenspan noted improved outlooks in South Korea and Thailand.\u003cbr/\u003eHe also welcomed a \"seemingly inexorable\" move toward worldwide capitalism and said the financial upheaval in Asia was a milestone in that process.\u003cbr/\u003eFederal Reserve Chairman Alan Greenspan was given a warm welcome by the American Society of newspaper editors.\u003cbr/\u003eIn his speech, he hailed a \"seemingly inexorable\" move toward capitalism in the world economy.\u003cbr/\u003eHe said the financial upheaval in Asia was a milestone in that process.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The current turmoil in East Asia is easy to categorise as one of many such crisis over the decades. Nonetheless, it appears to be an important milestone in what evidently has been a significant and seemingly inexorable trend toward market capitalism and political systems that stress the rule of law.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003eGreenspan said the Asian financial turmoil showed that countries paid a price if they clung to inefficient central government decision-making.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The current crisis in East Asia is likely to hasten that trend as hard-learned lessons of economic structure lead to significant reform. The economies in crisis did not use central planning of the evasive Soviet union style. They relied on markets in most respects, but they also used elements of central planning in the form of credit allocation and those elements in my view turned out to be their \"Achilles heel\".\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003eA relaxed Greenspan spoke with the editors after giving his speech.\u003cbr/\u003eHe was positive about the outlook for South Korea and Thailand and even Indonesia.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"We are transfixed at this stage by Asia and particular problems. But eventually that will stabilise and indeed, there are certain signs that it is already stabilising, obviously in countries other than Indonesia and even there there is hope, it seems to be moving forward.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003eIndonesia came under pressure from the West to implement a number of economic reforms and quietly did so last month.\u003cbr/\u003eRelations have since improved with the I-M-F, which has a team of senior\u003cbr/\u003eofficials in Jakarta at the moment.\u003cbr/\u003eWashington D.C, U-S; 2 April 1998\u003cbr/\u003e1. Wide shot of editors clapping as Greenspan walks to podium\u003cbr/\u003e2. SOUNDBITE: (English) Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003e3. Cutaway of delegates at conference\u003cbr/\u003e4. SOUNDBITE: (English) Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003e5. Cutaway editor asking Greenspan a question\u003cbr/\u003e6. SOUNDBITE: (English) Alan Greenspan, U-S Federal Reserve Chairman\u003cbr/\u003e7. Wide shot of Greenspan taking questions from delegates\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1998\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003easia, southeast asia, indonesia, east asia, north america, thailand, economy, business, elements\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='additional-tags-heading'\u003eAdditional Tags\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list keyterms' data-identifier='Boclips::VideoDecorator' data-type='keyterms'\u003eindustries, united states, government and politics, financial services, banking and credit, central planning, united states government, federal reserve system, financial markets, alan greenspan, crisis, financial crisis, central banking, form, significant, trend\u003c/div\u003e\n\u003cdiv class='keyterms-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow 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