Based　on　the　research　of　relationship　between　foreign　capital　flows　and　financial　risks,　this　paper　puts　forward　the　conceptual　model　-＂Foreign　Capital　Reliance＂(FCR),　and　from　the　perspective　of　monetary　capital,　analyses　its　interior　development　mechanism　and　the　possibility　&　inevitability　of　its　result　in　Financial　Crisis.　The　authors　believe　that　financial　risks　also　exist　in　foreign　capital　flows,　and　foreign　capital　inflows　are　entirely　likely　to　result　in　a　more　fragile　economic　system.　The　authors　also　regard　Asian　Financial　Crisis　as　the　Crisis　marked　FCR.　By　the　empirical　analyses　of　sampling　five　Asian　countries:　Thailand,　Korea,　Indonesia,　Malaysia　and　Philippines,　the　paper　supports　the　ideas.