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Essay

China Staves off Devaluation

Essay specific features

 

Issue:

Business

 

Written by:

Trina W

 

Date added:

May 10, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

18 / 4770

 

Was viewed:

4060 times

 

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Essay content:

Rapid growth was accompanied by a rapid increase in domestic savings and massive inflows of foreign capital (Perkins, 1986). The banking sector dominated financial intermediation and the ratio of non-performing loans was high. Estimates put non-performing loans at China's four leading banks at 25 per cent -- far higher than in South Korea or Thailand before they fell prey to the Asian contagion...
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Estimates put non-performing loans at China's four leading banks at 25 per cent -- far higher than in South Korea or Thailand before they fell prey to the Asian contagion. Would China be the next victim of the crisis? (Dornbusch, 1997). The second reason why China came to the forefront of the international finance scene following the East Asian financial crisis is China's economic performance became the key to the current economic stability of East Asia...
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