East Asian Economic Crisis

East Asiatic Economic Crisis A large frugal d holdturn in East Asia threatens to end its nearly 30 year run of high growth rates. The crisis has caused Asiatic currencies to go by 50-60%, stock markets to decline 40%, banks to close, and property values to drop. The crisis was brought on by currency devaluations, bad banking practices, high foreign debt, open(a) government regulation, and corruption. Due to East Asias large contact on the world economy, the panic in Thailand, Indonesia, Korea, and other Asiatic countries has prompted other countries to worry about the affect on their sustain economies and offer aid to the financially troubled nations (Sanger 1).

The East Asian crisis has affected almost all of the Asian nations, but the tercet hardest hit countries are Thailand, Indonesia, and South Korea. The panic began in Thailand in May of 1997 when speculators, worried about Thailands slowing economy, exces sive debt, and semipolitical instability devalued the ba...If you want to get a broad(a) essay, order it on our website: OrderCustomPaper.com

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