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East Asia Crisis
Title: East Asia Crisis
Category: Literature / English
Details: Words: 675 | Pages: 2.9 (approximately 235 words/page)
East Asia Crisis
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 devauations, bad banking
practices, high foreigh debt, loose government regulation, and corruption.
Due to East Asian countries has prompted other countries to worry
about the affect on their own economies …showed first 75 words of 675 total…
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…showed last 75 words of 675 total…outlook.
Since most of the Asian nations have balanced budgets, low inflation, cheap
labor, pro business governments, and high savings rates, the long-term
outlook for these countries is very good.
The financial crisis, instead of destroying the Asian tigers, will merely
serve as a much needed lesson in debt management, orderly growth,
competent accounting practices, and efficient government.
Considereing the size of Asias contribution to the world economy, a
rapid recovery will be greatly anticipated.
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