He displayed firmness in challenging the Soviet Union and he resolved a serious international Crisis in Asia.

The lesson that the world has surely learnt from the Crisis in Asia is that it is a great mistake to try to maintain a fixed exchange rate.

Does he accept that the worldwide backlash against globalisation - whether the Crisis in Asia, the failure of President Clinton to achieve fast-track trade negotiations or the riots in France - show that free trade and foreign direct investment that does not take social considerations into account is a dead-end street?

The third point that members of the chamber had to concede was that the United Kingdom economy is an open economy, and that there was instability as a result of the single currency moves in Europe and the economic Crisis in Asia.

The Crisis in Asia will inevitably have a knock-on effect on all our economies, but we are doing what we can.

We also discussed the wider implications of the Asia Crisis, emphasising that economic reform can be soundly based only where political legitimacy exists.

There was a strong message on the financial Crisis in Asia: how we can work together to restore confidence and stability.

That is my view, and I said that before the Thai baht collapsed and before the chaos in Indonesia and the economic Crisis in Asia.

The real problem - as has been revealed by the Crisis in Asia over the past year - is not the differencebetween guaranteed and non-guaranteed debt, but the difference between implicit and explicit debt.

Mr. Nigel Jones: To ask the Secretary of State for Foreign and Commonwealth Affairs what assessment he has made of the impact of the financial Crisis in Asia on the military modernisation plans of (a) Malaysia, (b) Thailand and (c) Indonesia.

Mr. Nigel Jones: To ask the Secretary of State for Foreign and Commonwealth Affairs what assessment he has made of the consequences for the UK arms industry of the financial Crisis in Asia.

No one can be sure that we have seen the end of the Crisis in Asia and elsewhere, but the best judgment that the Government can make is that we can and will avoid recession in the United Kingdom.

We still have many visitors, despite the Crisis in Asia, but the strong pound is reducing their spending power significantly, and they are not staying as long as they used to.

Trade policy was not the cause of the Asia Crisis, nor does it provide a complete solution.

British companies remain active in Chile, although trade over the past year has been affected by the impact of the Asia Crisis on the sub-region, including Chile, rather than by the detention of Senator Pinochet.

If the Treasury is concerned, on behalf of British taxpayers, about a sizeable loss as a result of, for example, the Asia Crisis, we must examine what happened.