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Asian financial crisis explained

Asian financial crisis , major global financial crisis that destabilized the Asian economy and then the world economy at the end of the s. The —98 Asian financial crisis began in Thailand and then quickly spread to neighbouring economies. It began as a currency crisis when Bangkok unpegged the Thai baht from the U. In the first six months, the value of the Indonesian rupiah was down by 80 percent, the Thai baht by more than 50 percent, the South Korean won by nearly 50 percent, and the Malaysian ringgit by 45 percent. Significant in terms of both its magnitude and its scope, the Asian financial crisis became a global crisis when it spread to the Russian and Brazilian economies. The significance of the Asian financial crisis is multifaceted.
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1997 Asian financial crisis

Asian financial crisis explained
Asian financial crisis explained
Asian financial crisis explained
Asian financial crisis explained
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What Was the Asian Financial Crisis?

The Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia beginning in July and raised fears of a worldwide economic meltdown due to financial contagion. Capital flight ensued, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. Indonesia , South Korea , and Thailand were the countries most affected by the crisis.
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What Caused East Asia’s Financial Crisis?

In this article, we will take a look at the causes of the Asian financial crisis and the solutions that ultimately brought about recovery, as well as some lessons for modern times. The Asian financial crisis, like many other financial crises before and after it, began with a series of asset bubbles. Growth in the region's export economies led to high levels of foreign direct investment , which in turn led to soaring real estate values, bolder corporate spending, and even large public infrastructure projects - all funded largely by heavy borrowing from banks.
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The Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia beginning in July and raised fears of a worldwide economic meltdown due to financial contagion. Capital flight ensued, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. Indonesia , South Korea , and Thailand were the countries most affected by the crisis. Hong Kong , Laos , Malaysia and the Philippines were also hurt by the slump.

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