Here's a quick summary:
- In the '97 - '98 Asian financial crisis, crude fell as low as $8/barrel
- High oil prices today depends upon continued growth of Asian economies
- The questionable characteristics of Asian financing -- subsidized loans and the tendency to prioritize full employment and expansion of market share above rates of return, efficiency and profitability -- have not disappeared since 1998
- China escaped the carnage in 1998, but they have a very "Asian" economy today
- China - and Asia - could crack again, which would send oil prices plummeting
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