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The Asian Crisis
Beginning of paper
The financial crisis that erupted in Asia in mid-1997 has led to sharp declines in the currencies, stock markets, and other asset prices of a number of Asian countries. It is hard to understand what these declines will actually do to the world market. This decline is expected to halve the rate of world growth in 1998 from the four percen .... Middle of paper
.... depreciating its currencies, Asia is exporting its deflation, its overcapacity and its lack of growth to the West, particularly to the US.
History
The past ten or fifteen years have seen an unprecedented expansion in the extent to which the countries of the world are tied together, both by instant communication and by international trade, institutions, and markets, including financial markets. On the whole, this process of globalization has be ....
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Number of words: 737
Number of pages: 3 (approx. 250 words per double-spaced page)
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