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Prominent scholars across the political divide and academic disciplines analyse how the dominant political parties in Malaysia and Singapore, United Malays National Organisation (UMNO) and the People's Action Party (PAP), have stayed in power. With a focus on developments in the last decade and the tenures of Prime Ministers Najib Tun Razak and Lee Hsien Loong, the authors offer a range of explanations for how these regimes have remained politically resilient.

This book takes stock of and analyzes the events during the Asian financial crisis (AFC) and subsequent developments, including the global financial crisis (GFC), that led to the development of the ASEAN+3 regional financial cooperation framework and the establishment of the ASEAN+3 Macroeconomic Research Office. The book is the first of its kind to compile comprehensive recollections of the major players during the AFC and the GFC, including country-level narratives on the causes and developments of the crises, and measures to overcome them. The book not only presents an analytical and deeper examination of country experiences during both crises, but also assesses the two crises and covers the lessons learnt from the crises, particularly with a focus on the development of regional financial cooperation. The book concludes with regional financial cooperation in retrospect, aiming to catalyze further discussions on the direction of the region's financial cooperation.