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Cover C O V E R   S T O R Y
LIGHT AT THE END OF THE TUNNEL?
There's still plenty of pain to come, but hope is on the rise that the region's troubles may be waning. Japan's bank-overhaul plan and the Fed's interest-rate cuts bolster the new optimism



A S I A
"I'M HONEST, AND I DON'T DENY ANYTHING"
The Philippines: President Joseph Estrada looks back at his first months in power--and toward the crises buffeting the region

E N D   P A G E S
SPOTLIGHT

MILESTONES

TRAVEL WATCH
Crossing Sands and 'Stans on the Silk Road

LETTER FROM THE EDITOR

ESSAY





C O V E R   S T O R Y
INTERVIEW
Eisuke Sakakibara, Japan's "Mr. Yen," emphasizes the need for cooperation

OUTLOOK
TIME's Asian Board of Economists evaluates the chances for recovery in the region

GOOD START
Thailand has better reviews than returns

THE RIGHT MEDICINE
Korea accepts a bitter pill

VIEWPOINT
David Roche sees trouble, but no depression




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