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Topic: Asian economic crisis

	Asian financial crisis -- Facts, Info, and Encyclopedia article (Site not responding. Last check: 2007-11-06)
		However, its overall ability to ride out the crisis was widely noticed, and led to increased study on the Singaporean fiscal policy as possible lessons for her Asian neighbours.
		Asian countries usually run a (An excess of imports over exports) trade deficit with Japan because the latter's economy was more than twice the size of the rest of Asia together, and seven times China's.
		The economic crisis also led to political upheaval, most notably culminating in the resignations of (Indonesian statesman who seized power from Sukarno in 1967 (born in 1921)) Suharto in Indonesia and Chavalit Yongchaiyudh in Thailand.
	www.absoluteastronomy.com /encyclopedia/a/as/asian_financial_crisis.htm (2664 words)

	Asian financial crisis Article, Asianfinancialcrisis Information (Site not responding. Last check: 2007-11-06)
		Asian countries usually runs a trade deficit with Japan because the latter's economy is more than twice the sizeof the rest of Asia together, and seven times China's.
		The Asian crisis alsoraised the economic prestige of the People'sRepublic of China considerably.
		The Asian crisis contributed to the Russian and Brazilian crises of 1998, because afterthe Asian crisis banks were reluctant to lend to emerging countries.
	www.anoca.org /percent/thailand/asian_financial_crisis.html (1444 words)

	Asian financial crisis
		Indonesia, South Korea and Thailand were the countries most affected by the crisis with Malaysia, Philippines and Hong Kong also hit by the slump.
		Japan was not affected much by this crisis but was going through its own ongoing long-term economic difficulties.
		The Asian crisis contributed to the Russian and Brazilian crisis in 1998, because after the Asian crisis, banks were reluctant to lend to emerging countries.
	www.brainyencyclopedia.com /encyclopedia/a/as/asian_financial_crisis.html (1501 words)

	FDIC: New York Regional Outlook, Third Quarter 1998: In Focus, The Asian Economic Crisis
		The economic crisis in Asia is now more than one year old, yet the consequences of the unprecedented slide in currency values are still reverberating throughout the global economy.
		Asian developing countries also had stepped up their demand for petroleum products, accounting for two-thirds of the increase in world petroleum consumption between 1992 and 1996.
		In the initial stages of the crisis, the consensus view suggested that the United States would be overwhelmed by cheap imports from Asia, as Asian countries exported their way to economic recovery.
	www.fdic.gov /bank/analytical/regional/ro19983q/ny/infocus1.html (2607 words)

	Asia Times: Asian economic crisis a warning to rich nations
		UNITED NATIONS - The Asian economic turmoil is a warning to the world's richer nations that they cannot remain insensitive to the spreading crisis in developing countries, Indonesian Foreign Minister Ali Alatas said Jan. 12.
		''The crisis sent a strong message to the developed countries that if this economic storm were allowed to unleash its full fury, they, too, in the end will sink with the rest of us in a global recession or even depression,'' he said here.
		He also blamed the crisis on an ''unbridled liberalisation of markets'' and the drive by richer nations to create openings for their investments, as well as the unrestricted money-market flows and exports of manufactured products.
	www.atimes.com /asia-crisis/AA15Db01.html (854 words)

	Encyclopedia: Asian economic crisis
		However, Thailand, Indonesia and South Korea had large current account deficits and the maintenance of pegged exchange rates encouraged external borrowing and led to excessive exposure to foreign exchange risk in both the financial and corporate sectors.
		Most importantly, the Thai and Indonesian currencies were closely tied to the dollar, which was appreciating in the 1990s.
		The crisis has thus attracted interest from behavioral economists interested in market psychology.
	www.nationmaster.com /encyclopedia/Asian-economic-crisis (1866 words)

	Factsheet - The IMF's Response to the Asian Crisis
		The financial crisis that erupted in Asia in mid-1997 led to sharp declines in the currencies, stock markets, and other asset prices of a number of Asian countries (Figure 1); threatened these countries' financial systems; and disrupted their real economies, with large contractions in activity that created a human crisis alongside the financial one.
		The crisis unfolded against the backdrop of several decades of outstanding economic performance in Asia, and the difficulties that the East Asian countries face are not primarily the result of macroeconomic imbalances.
		After the crisis erupted in Thailand with a series of speculative attacks on the baht, contagion spread rapidly to other economies in the region that seemed vulnerable to an erosion of competitiveness after the devaluation of the baht or were perceived by investors to have similar financial or macroeconomic problems.
	www.imf.org /External/np/exr/facts/asia.HTM (2852 words)

	washingtonpost.com: Understanding the Asian Economic Crisis
		The basic story of the Asian bubble economics varied only slightly from country to country: Foreign investment -- lured by high returns, stable government and currencies pegged tightly to the dollar -- began pouring in during the early '80s.
		First with Thailand in July and later in other countries, the IMF imposed austerity measures and economic reforms.The IMF's harsh medicine is producing results: weak companies are already beginning to declare bankruptcy, unemployment is rising, living standards are falling and the region looks to be heading into a long and deep recession.
		Economic forecasting models show that the troubles in Asia will shave anywhere from a half percentage point to a full point off the growth rate of the U.S. economy this year.
	www.washingtonpost.com /wp-srv/business/longterm/asiaecon/stories/asiaecon118.htm (1764 words)

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		The significance of [millions losing their jobs as a result of the economic crisis] is that it adds a very strong social, and indeed moral, argument to the case for ensuring greater stability in the international financial system.
		In light of the Asian crisis, Human Rights Watch considers the ratification of another international treaty, the United Nations Convention on the Protection of the Rights of all Migrant Workers and Members of their Families, to be a matter of urgency.
		Asian governments should, with the aid of the international community, guarantee the humanitarian treatment of migrant workers, both in the host country and on their return home, through independent monitoring and by safeguarding their rights in accordance with international law.
	www.hrw.org /reports98/asialbr (11873 words)

	Human Dimensions of the Asian Economic Crisis by Peter S. Heller
		Such an economic environment facilitates a lowering of unemployment; higher incomes; avoidance of the inequities caused by high inflation; and the provision of the additional budgetary resources needed to finance social investments and social insurance schemes.
		The Asian crisis was unusual, both in terms of the speed with which it took hold and in the complexity of its origins.
		The most fundamental concern of the IMF, both at the inception of the Asian crisis and since, was to develop a macroeconomic and structural policy package in each country appropriate for restoring quickly macroeconomic stability--containing inflation; fostering expectations of a stable exchange rate; and restoring sustainable growth.
	www.imf.org /external/np/speeches/1999/012199.HTM (1736 words)

	Asian Economic Crisis: Women Struck Twice Over (Site not responding. Last check: 2007-11-06)
		Profits were made hand over fist; that is, economic indicators improved but did not reflect the immiseration of the women from whose bodies those profits were extracted.
		At day's end, many of the countries in the region were found to have focused on economic development that had little to do with resolving crises wrought by decades of mal-development.
		At the same time, the Asia Pacific Economic Council (APEC) that had so fervently trumpeted the dogma of liberalisation and globalisation continued to reaffirm its commitment to the very same policies that had brought on the economic collapse.
	www.isiswomen.org /pub/crisis/eco00002.html (1468 words)

	TST: Asian economic crisis result of suppressed liberty
		The crisis in Indonesia is the predictable consequence of decades of monetary inflation.
		One important characteristic of an economic correction, after a period of inflation is its unpredictable nature because reactions of the individuals concerned influence both political and economic events.
		Concern for liberty is not a subject associated with economic crisis and is in fact an ongoing casualty of past and current policy.
	www.house.gov /paul/tst/tst98/tst052598.htm (709 words)

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		For one thing, this crisis is still unfolding at the time of writing, and policy is being made on the fly; any clarity we can bring to the discussion is bound to be helpful.
		Moreover, while this crisis did not play exactly in the way posited by standard currency crisis models, nonetheless those models were helpful in providing at least a first-pass framework for both understanding and policy formation - and those who knew those models were better forecasters than those who did not.
		What all of this suggests is that the Asian crisis is best seen not as a problem brought on by fiscal deficits, as in "first-generation" models, nor as one brought on by macroeconomic temptation, as in "second-generation" models, but as one brought on by financial excess and then financial collapse.
	web.mit.edu /krugman/www/DISINTER.html (5234 words)

	asian financial crisis information (Site not responding. Last check: 2007-11-06)
		International Peace report on the impact of the Asian Financial Crisis on the emerging middle class by Nancy Birdsall...
		The beginning of the Asian financial crisis can be traced back to 2 July 1997.
		The Asian financial crisis was a financial crisis that started in July 1997 in Thailand, and affected...
	property-raider.com /articles/4/asian-financial-crisis.html (589 words)

	One Year Later, Asian Economic Crisis Is Worsening - Social and Economic Policy - Global Policy Forum (Site not responding. Last check: 2007-11-06)
		The economic crisis that was supposed to be abating now, much as Mexico's did after a year, is growing more intense.
		Unlike a nuclear test in India or a provocation from Iraq, this crisis started so slowly that in November, Clinton dismissed it as "a few small glitches in the road." Today it stands as the largest single threat to the six-year economic boom in the United States.
		The IMF declared that the crisis was stabilizing.
	www.globalpolicy.org /socecon/bwi-wto/imf/0706worsening.htm (1662 words)

	Valore International Finance - Asian Economic Crisis
		The crisis came as a complete surprise to most every seasoned risk manager, just as it did for the region's political and economic leadership.
		Most Asian economies have relatively thin currency markets, meaning that the volume of transactions involving their currency is small in comparison to the total market.
		The respective Asian governments have within their mandate the ability to shift their reliance on international trade and investment, towards local development and regional economic integration.
	www.florin.com /valore/v6 (970 words)

	Proceedings of the workshop on the implications of the Asian economic crisis for the livestock industry held in Bangkok ...
		It is not the function of this paper to discuss the possible reasons for the crisis but to raise questions about what might be learnt from the events of the last two years and the period leading up to the crisis - specifically in terms of the livestock industry.
		One of the most immediate consequences of the economic crisis in Asia was the major reduction in the poultry industry - most notably in Indonesia, but also, to varying degrees, in the Philippines, Thailand and the Lao PDR.
		The economics of the marketplace are known to be questionable, to say the least.
	www.fao.org /DOCREP/004/AC473E/AC473E00.HTM (4959 words)

	Asian economic crisis
		Unable to find an explanation for the crisis most of our commentators were reduced to parroting statements about bad investments, poor decision-making, overinvestment, excess capacity, etc., in an attempt to hide their ignorance.
		Asian countries artificially lowered their interest rates, thus encouraging businesses in the higher stages of production to expand their investments beyond the point justified by the real supply of capital goods.
		The cure for the crisis: the market should be allowed to liquidate the malinvestments; a sound monetary policy must be adopted; favouritism, subsidies, privileges and monopoly grants should be abolished and tariffs should be eliminated.
	www.brookesnews.com /042709asiancrisis.html (759 words)

	Asian Economic Crisis: Trading the Future (Site not responding. Last check: 2007-11-06)
		Already, the economic turmoil has forced the governments of Malaysia, Thailand, Indonesia, and the Philippines, as well as private investors, to drop or shelve or jettison some of their multi-billion dollar mega-projects.
		But an economic crisis can make governments turn on their own remaining resources and those of their neighbours --ostensibly, to claw their way out of the turmoil.
		Bailing out their economies from the crisis and their people from poverty is a job that has been shouldered by the region's women and children.
	www.isiswomen.org /pub/crisis/eco00001.html (2085 words)

	Secondary Product Exports Impacted by Asian Economic Crisis
		Since the Asian economic crisis occurred during the last quarter of 1997, export statistics do not demonstrate the full impact that the economic decline has had on the US timber industry.
		This statistic is alarming since the Asian economic decline occurred during the last quarter of 1997.
		Despite the Asian economic decline, Japan was the leading export destination for US and PNW building exports with 91 percent of the PNW prefabricated building export market.
	www.cintrafor.org /RESEARCH_TAB/links/Fs/FS28.htm (901 words)

	Asian Economic Crisis: Points of View
		Asian Economic Crisis Kar-yiu Wong's (Economics Dept, University of Washington) home page on the Asian Economic Crisis.
		Address to the Board of Governors Speech by President Mitsuo Sato Asian Development Bank, 29 April 1998, Geneva, Switzerland Discusses the Asian currency turmoil, the ADB's response to the Asian currency crisis, and the ADB's role in the changing environment.
		Thailand's Foreign Policy During the Economic and Social Crises Keynote address by H.E. Dr. Surin Pitsuwan Minister of Foreign Affairs of Thailand at the Seminar in Commemoration of the 49th Anniversary of the Faculty of Political Science, Thammasat University June 12, 1998.
	russia.shaps.hawaii.edu /economic/asian-crisis.html (2916 words)

	Asian Economic Crisis (Site not responding. Last check: 2007-11-06)
		The increasing capital flow into South East Asian economies back then could be explained by the resolution of the Latin debt crisis and low interest rates in advanced countries.
		Besides these domestic origins, the severity of the crisis was deepened by the herd behaviour of international capital market actors whose influx of foreign capital into Asian markets in the 1990s contributed to overvalued exchange rates, excessive leverage, and the buildup of domestic asset bubbles.
		After all, the crisis reflected the vulnerability in financial panic due to the immature and hence overheated domestic financial sectors with inadequate professional expertise in an open market system.
	www.mtholyoke.edu /~azinoo/document/corporate (750 words)

	Asia Society: Publications - The Asian Economic Crisis (Site not responding. Last check: 2007-11-06)
		Linda Yuen-Ching Lim, a native of Singapore, holds degrees in economics from the Universities of Cambridge, Yale, and Michigan.
		Bernardo M. Villegas is the Dean of the School of Economics of the University of Asia and the Pacific.
		His special fields of study are development economics, business economics, and strategic management, and he writes regularly for both local and international newspapers, such as the International Herald Tribune and The Asian Wall Street Journal.
	www.asiasociety.org /publications/update_crisis.html (927 words)

	ASIAN ECONOMIC CRISIS
		I have always stated that we should develop economic policies that result in the strengthening of local economies toward optimal self sustain ability and independence from the economies of other countries.
		I am for investment, finance, trade, and economic policies that protect and promote sustainable, and stable economic development and growth within and between all countries, to the mutual benefit of all peoples in every country worldwide.
		We should also reduce, to every extent possible, our dependence on transnational corporations for our economic viability because their policies and practices are predicated on advancing their own selfish interests and will eventually destroy the general homeland economies of countries.
	www.udarrell.com /asianeconomiccrisis.html (1229 words)

	Reason: Is the Asian flu fatal? - Asian economic crisis - Cover Story
		Brink Lindsey: I see the Asian crisis here as the harmonic convergence of three sets of bad policies that have all come together and come to a head.
		The third set of policies is that for all of these Asian banks borrowing, you had U.S., European, Japanese banks lending recklessly because of the moral hazard created by the expectation that if things went sour, the IMF or some international body would bail them out of their troubles.
		We had irrational exuberance about Asian values and the Asian system and that they could do no wrong, and that everyone over there was 10 feet tall and bulletproof.
	www.findarticles.com /p/articles/mi_m1568/is_n1_v30/ai_20529213 (1356 words)

	BBC NEWS \| Business \| Thailand's economy grows by 6.7%
		Thailand's economy grew by 6.7% in 2003 - the biggest surge since before the 1996/1997 Asian economic crisis - according to new data.
		The National Economic and Social Development Board, an advisory body, said booming exports and a healthier world economy led to the growth.
		The bird flu crisis which killed 22 people in Vietnam and Thailand had a limited impact, it added.
	news.bbc.co.uk /2/hi/business/3543945.stm (281 words)

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