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Asian Storm: The Economic Crisis Examined
In the wake of the crash of East Asia's economy, it is time for a frank discussion of the strategy for correcting the flaws in policy and infrastructure that undercut Asia's economic engine and for rebuilding its financial resources. Here, in absorbing detail, is an analysis not only of what went wrong and how it affected Japan and the other economies of new Asia, but how they can recover and become strong again. Philippe Ris, the economic and political correspondent for Agence France-Presse stationed in Tokyo, brings his singular expertise to a subject that continues to fascinate economists and businesspeople worldwide. Philippe Ris, the economic and political correspondent for Agence France-Presse, is stationed in Tokyo. He also covers related economic and political issues for neighboring Asian countries.
273 pages, Hardcover
First published August 1, 2000
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January 16, 2012
Probably one of the most engaging book that explains the impact of 1997 financial crisis. The crisis was started when the Thailand government decided to float Baht to dollar and eventually turn out into liquidity crisis. After the The Thailand Baht fell to US dollar, other asian currency fell. The Korean Won, the Philippines peso, the Indonesian rupiah devalued dramatically which eventually leading market panic in asia and impacting the rest of the world. Probably one of the worst crisis before the subprime mortgage crisis in 2008.
This book gives a good insight how it happened. The book is divided into chapters which focus the background and impact of the crisis to certain country. The book also provides detailed information the role of international organizations such as IMF to handle the crisis.
The book is readable, but not for common reader. Readers should have basic knowledge of how financial market works, or they might find this book is overwhelming.
This book is important read for these who want to understand how market might crash or comparing the recent crisis to asian crisis. The Asian crisis happened due to currency devaluation. South Korea and Indonesia were one of the biggest victims.
It is interesting to note however, whether US and Europe have learned something from the asian crisis.
This book gives a good insight how it happened. The book is divided into chapters which focus the background and impact of the crisis to certain country. The book also provides detailed information the role of international organizations such as IMF to handle the crisis.
The book is readable, but not for common reader. Readers should have basic knowledge of how financial market works, or they might find this book is overwhelming.
This book is important read for these who want to understand how market might crash or comparing the recent crisis to asian crisis. The Asian crisis happened due to currency devaluation. South Korea and Indonesia were one of the biggest victims.
It is interesting to note however, whether US and Europe have learned something from the asian crisis.
Displaying 1 of 1 review