Funnily, do we agree that the asian banks fared better than western Banks in the long run looking at the fall?

The computer was existing in the U.S. the banks there were working there withit, In asia, the banks kept the books on the manual system writing by hand, and the west was laughing at us as to how we have been still lost in the stone age, writing accounts by hand, where as we Indians, too marvelled as to the progress made by America. But what has all these observations proved and who is ahead of which race.

3 Replies to “Funnily, do we agree that the asian banks fared better than western Banks in the long run looking at the fall?”

  1. To be honest….Banks all over the world took it in the shorts during this global recession. It makes no difference which methodology was utilized to record transactions…..the bottom line is that asset value had dropped substantially for all banking concerns

  2. The race is still being run.
    In Asia, many of the governments set the international exchange rate for their county’s currency.
    They do not let it float. In effect,they are Cooking The Books. By arbitrarily declaring what the county’s money is worth, a government can make their economy look as good as it wants. It’s all a house of cards, but without the widespread use of computers, it’s impossible to understand or react to this in real time.
    This is economically unsustainable in the long run, as it does not accurately reflect the true value of production. Collapse will inevitably follow. It just takes longer when you have to do it by hand.

  3. Raseema,
    The loan lending procedure in Asian countries is much stringent and difficult than the western world. We do not have the concept of sub prime loan. unless you have the income to substantiate the EMI you cannot get a loan in India. That is one of the reasons why our banks incurred far far lesser losses than their western counterparts…

    mail me at [email protected] if you need any more details.

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