Asian financial crisis in 1998
The Russian Crisis 1998
At a press conference in March, then Chinese Premier Zhu Rongji promised that the central government would protect Hong Kong from the financial crisis "at all costs.
1997 Asian financial crisis
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5 Things Asian Economies Learned From 1997-98 Financial Crisis
Asian Financial Crisis 1997
A number of critiques have been leveled against the conduct of the IMF in the crisis, including one by former World Bank economist Joseph Stiglitz. Due to the increased globalization of financial markets, crises tend to become more severe and contagious even if the effected countries have strong macroeconomic fundamentals.
This also meant the appreciation of East Asian currencies that were pegged to the U. He has also written two books.
Description: Lower ratios of external debt to GDP and less corporate short-term external debt exposure are likely to help Asian economies this time around. Foreign companies were attracting capital inflows from the developed world.