Ad
related to: asian financial crisis
Search results
Results From The WOW.Com Content Network
The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. [1]
Factor 2: Transmitting the effect of the Southeast Asian monetary crisis Given the fundamental factors behind the Southeast Asian currency crisis , which erupted in Thailand in May 1997 and had spread to Indonesia , the Philippines , and Malaysia since July, it was also a widening deficit in the current account and slowing economic growth.
After the Korean War in 1953, the South Korean economy achieved sustained growth, but had accumulated an unseen amount of short term foreign debt. Korea was one of the last countries to be affected by the Asian Financial Crisis.
Chinese property developer Yida China is battling to avoid defaulting on its debt as the coronavirus pandemic slams sales, borrowing costs spiral and police detain a director on suspicion of ...
The global crisis had less impact of India because exports account for only 15% of India's GDP, less than half the levels of major Asian economic powers such as China and Japan. [30] However, unlike other major Asian economies, India's government finances were in poor shape and as a consequence, it was not able to enact large-scale economic ...
The Asian Monetary Fund (AMF) was an idea put forward by the Japanese government during the 1997 Asian financial crisis at the G7-IMF meetings in Hong Kong during September 20–25, 1997 that was never implemented. [1]
On October 27, 1997, a global stock market crash was caused by an economic crisis in Asia, the "Asian contagion", or Tom Yum Goong crisis (Thai: วิกฤตต้มยำกุ้ง). The point loss that the Dow Jones Industrial Average suffered on this day currently ranks as the 18th biggest percentage loss since the Dow's creation in ...
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose ... 1997 Asian Financial Crisis – devaluations and banking ...