The East Asian Economic Crisis: A Discussion
Generally, the ASEAN and other East Asian countries are currently facing a severe economic crisis. It started with a currency crisis across the region triggered when the Thai baht had to be floated on 2 July 1997. It later developed into a stock market crisis and financial crisis, culminating in...
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis |
| Language: | English English |
| Published: |
1998
|
| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/8116/1/GSM_1998_29_.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Generally, the ASEAN and other East Asian countries are currently facing a
severe economic crisis. It started with a currency crisis across the region
triggered when the Thai baht had to be floated on 2 July 1997. It later
developed into a stock market crisis and financial crisis, culminating in a full
blown economic crisis. The possible causes underlying the crisis revolve
around the attitude towards risks and debts, unhealthy practices, and rapid
movement of capital with the advent of globalisation. The effects of the crisis
generally touches the issues of economic growth, credit crunch, decreasing
wealth, unemployment, debt burden, political and social repercussions, and
ultimately, uncertainty about the future. The various governments, some with
the help of the International Monetary Fund, are taking several measures to
overcome the crisis, although some with questionable effectiveness.
Nevertheless, looking forward, measures must also be taken to try to prevent
and mitigate, even if only partially, such crisis in the future. |
|---|