The East Asian financial crisis broke out in 1997 ended the East-Asian“miracle”of long-term high economic growth and exposed inherent flaws of the East-Asian export-oriented development strategy as the basic model of economic growth.During the period of the East-Asian crisis，countries adopted a series of policies to response the crisis which in essence to some degree were s king of adjustments in development strategy.After a decade of recovery and adjustment，East Asia has increased its capability to resist the risk from the financial crisis happened in 2008，however，these adjustment policies did not fundamentally overcome the inherent weaknesses of the East-Asian model.Therefore，East-Asian economic growth and stability still depends greatly on the external market environment.