The Asian Crisis
Beginning of paper
The financial crisis that erupted in Asia in mid-1997 has led to sharp declines in the currencies, stock markets, and other asset prices of a number of Asian countries. It is hard to understand what these declines will actually do to the world market. This decline is expected to halve the rate of w ....
Middle of paper
.... but are eliminated with relative ease in a reasonably short time period. of recent falls into this category of inefficient balance of payments facilitated by depreciation of its currency. By competitively depreciating its currencies, Asia is exporting its deflation, its overcapacity and its lack of growth to the West, particularly to the US.
History
The past ten or fifteen years have seen an unprecedented expansion in the extent to which the countries of the world are tied together, ....
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Word count: 737
Page count: 3 (approximately 250 words per page)
