year 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

back thier loans to the U.S. and other countries (Duffy 2). If the Asian

hit a record low against the U.S. dollar.

will make Asian imprts seen cheap and will lead to increased American

packages are tied to measures that will ensure that the recipient countries

several solutions have been porposed designed to restore the health of the

Since most of the Asian nations have balanced budgets, low inflation, cheap

Considereing the size of Asias contribution to the world economy, a

possibly give rise to violent strikes, riots, and greater political instability.

Some common words found in the essay are:
South Korea, East Asia, Asia Asian, Philippines Japan's, 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)