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  • The Asian Financial Crisis, Also Called The "Asian Contagion," Was A

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    Dahyun Dahyun
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    The Asian financial crisis began in 1997 when Thailand decided to stop pegging its currency to the US dollar, causing its currency to decline rapidly and sparking currency declines across East Asia. This led to falling stock markets, lower import revenues, and political instability in several countries as the effects of the crisis spread through the region.

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    The Asian financial crisis began in 1997 when Thailand decided to stop pegging its currency to the US dollar, causing its currency to decline rapidly and sparking currency declines across East Asia. This led to falling stock markets, lower import revenues, and political instability in several countries as the effects of the crisis spread through the region.

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    4 views1 page

    The Asian Financial Crisis, Also Called The "Asian Contagion," Was A

    Uploaded by

    Dahyun Dahyun
    The Asian financial crisis began in 1997 when Thailand decided to stop pegging its currency to the US dollar, causing its currency to decline rapidly and sparking currency declines across East Asia. This led to falling stock markets, lower import revenues, and political instability in several countries as the effects of the crisis spread through the region.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    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 East Asia, in turn causing stock
    market declines, reduced import revenues, and government upheaval.

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