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Asian Crisis

In: Social Issues

Submitted By minabanoo
Words 6492
Pages 26
Table of content Page
Introduction 1
Asian Contagion 1
Emerging Market Crises 3
Meltdown in Thailand 7
The International Monetary Fund 9
Implication for Business 11
Malaysia 13
Preventing and Managing Future Crises 14
Conclusion 16
References 18

Introduction
Asian Contagion
In March 1997 Asia faced a serious crisis in financial sector. This concern was started from Thailand and has spread to a lot of countries in Asia. Obviously it affected to those countries in economy situation such as currency value. Also called the "Asian Contagion", this was a series of currency devaluations and other events that spread through many Asian markets beginning in the summer of 1997. The currency markets first failed in Thailand as the result of the government's decision to no longer peg the local currency to the U.S. dollar. Currency declines spread rapidly throughout South Asia, in turn causing stock market declines, reduced import revenues and even government...

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