The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.
The countries most affected by the 1997 Asian financial crisis.The Asian financial crisis, also called the "Asian Contagion," was a sequence of currency devaluations and other events that began in the summer of 1997 and spread through many Asian markets. 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 (USD). Currency declines spread rapidly throughout Southeast Asia, in turn causing stock market declines, reduced import revenues and government upheaval.
Asian financial crisis, major global financial crisis that destabilized the Asian economy and then the world economy at the end of the 1990s.
The 1997–98 Asian financial crisis began in Thailand and then quickly spread to neighbouring economies. It began as a currency crisis when Bangkok unpegged the Thai baht from the U.S. dollar, setting off a series of currency devaluations and massive flights of capital. In the first six months, the value of the Indonesian rupiah was down by 80 percent, the Thai baht by more than 50 percent, the South Korean won by nearly 50 percent, and the Malaysian ringgit by 45 percent. Collectively, the economies most affected saw a drop in capital inflows of more than $100 billion in the first year of the crisis. Significant in terms of both its magnitude and its scope, the Asian financial crisis became a global crisis when it spread to the Russian and Brazilian economies.
Экономический кризис 1998 года в России был одним из самых тяжёлых экономических кризисов в истории России.Žiūrėk, kaip pataikiau 1998 metų pabaigoj didmeninės prekybos verslą sustabdęs...
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