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Anniversary of Asia Crisis Puts Recovery In Spotlight
Essay specific features
Written by:
Willie B
Date added:
September 24, 2013
Level:
University
Grade:
A
No of pages / words:
3 / 625
Was viewed:
2674 times
Rating of current essay:
Essay content:
Leverage has been reduced, especially short-term foreign borrowings, lending is much more cautious and business investment is at healthier levels, down from the boom conditions of the early 1990s."
Even so, as the study says, the previous bull market in Asian stocks turned to meltdown very rapidly, and from comparatively trivial origins...
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Ten years ago today, on 2 July 1997, Thailand was forced to devalue the baht when the central bank ran out of foreign exchange reserves. It was the trigger for the greatest financial crisis and economic collapse to hit East Asia since the Second World War. It brought meltdown to Thailand, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Hong Kong and Taiwan...
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