Warning: Use of undefined constant referer - assumed 'referer' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 102

Warning: Use of undefined constant host - assumed 'host' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 105

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 106

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 109
East Asian Crisis In The Econo - Example Papers

East Asian Crisis In The Econo

A large economic downturn in East Asia threatens to end its nearly
30 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 devaluations, bad banking practices, high foreign debt, loose government regulation, and corruption. Due to East Asia’s large
impact on the world economy, the panic in Thailand, Indonesia, Korea, and other 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 ations, ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

government. Thailand and Indonesia also suffer from being overbuilt during real estate booms that Reven2 were the result of huge influxes of cash by optimistic foreign investors. South Korea faltered under the weight of its huge foreign debt, decreasing exports, and weakening currency (Lochhead 4-5).
Other major countries touched by the crisis are Japan, China, Malaysia, and the Philippines. Japan’s economy is burdened by $300 billion in bad bank loans and a recession. Chinese banks may carry bad banks loans of up to $1 trillion. The banks lend 66% of China’s investment capital to state-run industries that only produce 12% of China’s industrial output (Manning 2). Malaysia and the Philippines
are both faced with devalued currencies and lowered stock markets
(Lochhead 5).
The implications of the Asian financial crisis are many. A declining Asian economy will reduce demand for U.S. and other countries’ exports. The devalued currencies of East Asia will make Asian imports seen ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.

Already a member? Login

CITE THIS PAGE:

APA
MLA
Chicago
Turabian

East Asian Crisis In The Econo. (2007, November 4). Retrieved April 20, 2024, from http://www.essayworld.com/essays/East-Asian-Crisis-In-The-Econo/73827

"East Asian Crisis In The Econo." Essayworld.com. Essayworld.com, 4 Nov. 2007. Web. 20 Apr. 2024. <http://www.essayworld.com/essays/East-Asian-Crisis-In-The-Econo/73827>

"East Asian Crisis In The Econo." Essayworld.com. November 4, 2007. Accessed April 20, 2024. http://www.essayworld.com/essays/East-Asian-Crisis-In-The-Econo/73827.

JOIN NOW

Join today and get instant access to this and 50,000+ other essays

PAPER DETAILS

Added: 11/4/2007 03:09:43 PM
Category: World History
Type: Premium Paper
Words: 684
Pages: 3

Save |

Report

SHARE THIS PAPER

SAVED ESSAYS

Save and find your favorite essays easier