On 6th of May, 2010, Dr. Michael Lim launched his book entitled “Nowhere to Hide: The Great Financial Crisis and Challenges for Asia (ISEAS, Singapore, 2010) ” co-authored with Dr. Lim Chin  at University of Malaya’s  Faculty of Economics and Administration for the Asian Public Intellectuals Programme of the Nippon Foundation and Strategic Information and Research Development Centre.

The book launch was attended by a vast group of intellectuals as well as graduates who were interested in hearing Dr. Michael speak passionately about the much heralded New Economic Model, as well as have an open discussion about the book and the implications of the economic crisis for Asia and Malaysia.

The book: “Nowhere to Hide” takes a multi-disciplinary approach to explaining the great financial crisis of 2007-09. It combines the disciplines of economics, finance, sociology and politics to analyze the causes, consequences and challenges of the crisis. It is proposed that the causes of the crisis should be understood at three inter-related levels: the level of theory and ideology, the level of financial industry practices and malpractices, and finally the level of structural imbalances in the international economy. The book then traces the expansion of finance capital and financial instruments and their impact over the real economy. The book also offers important insights on the challenges these developments pose for Asia.

The person chairing the discussion was Dr. Rajah Rasiah – Professor of Technology and Innovation Policy at University of Malaya. The first discussant was  Dr. Edmund Terence Gomez – Professor of Political Economy at University of Malay and the second discussant was Dr. Cheong Kee Cheok  –  Senior Research fellow at the Faculty of Economics and Administration.