Part 7/10:
As the crisis spread, the response from the financial elite was lukewarm. They remained caught up in their celebratory narrative of neoliberal success, failing to recognize that the situation in Southeast Asia demanded swift and decisive action. Observers in Tokyo were on high alert, fearing that issues in Thailand could lead to larger-scale economic disasters across the region. However, discussions and plans to create a stabilizing fund met fierce resistance from the United States, resulting in indecision and a lack of financial support as conditions worsened.