East Asia Crisis
A large economic downturn in East Asia threatens to end its nearly 30year run of high growth rates. The crisis has caused Asian currencies to fall 50-60%, stock markets to decline 40%, banks to close, and property values to drop. The crisis was brought on by currency devauations, bad banking practices, high foreigh debt, loose government regulation, and corruption. Due to East Asian countries has prompted other countries to worry about the affect on their own economies and offer aid to the financially troubled nations (Sanger 1). The East Asian crisis has affected almost all of the Asian nations, but the three hardest hit countries are Thailand, Indonesia, The panic began in Thailand in May of 1997 when speculators, worried about Thailand’s slowing economy, exces sive debt, and political instability devalued the baht as they fled for market-driven currencies like the
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Some common words found in the essay are:
South Korea, East Asia, Asia Asian, Philippines Japans, Thailand Indonesia, East Asian, Malaysia Philippines, Monetary Fund, , east asia, thailand indonesia, Indonesia South, indonesia south korea, world market, asian economies, financial crisis, aid packages, stock markets, indonesia south, thailand indonesia south, malaysia philippines, asian nations,
Approximate Word count = 630
Approximate Pages = 3 (250 words per page double spaced)
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