In this issue of the Bank of Thailand's economic focus, an attempt is made to recapture the evolution of the crisis, weaving the interactions between various forces and events that transpired during the pre-crisis years to the present. The study aims to elicit lessons and experiences that may prove useful for future developments and policy framework designs, both to prevent its recurrence and to enhance strengths inherent in the country's economic and financial systems. Equally important is to improve public understanding of the events and adjustments required on their parts to enhance the performances of the Thai economy in the years to come.