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Part III Case Study: The 1997 Asian Financial Crisis
Part III Case study: The 1997 asian financial crisis

Between the 1970s and the 1990s, most of the South-east Asian countries were transformed into industrialized nations internationally recognized for their high-quality products and efficient services. However, by the end of 1997 that much-admired economic success turned into an economic nightmare for all the Asian countries. Within less than a year, from the end of 1996 to the autumn of 1997, the Thai currency exchange rate dropped by 42.8 per cent against the US dollar, the South Korean dropped by 50.7 per cent, the Malaysian by 33.6 per cent and the Singaporean by 16.3 per cent. Within a few months the Asian financial and banking system collapsed, inflation ...

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