Analyzes the causes and effects of the monetary crisis of 1997-1998. Examines the impact on Europe, politics, stock market, bailout plans and banking.
Written in 1999; 1,350 words; 10 sources; $ 47.95
Paper Summary:
The financial turmoil in East Asia has affected markets in different parts of the world and has had a particularly devastating effect on the countries of East Asia itself. Since the beginning of this year, the stock markets of Asia have collectively lost $400 billion in value, and the losses in Hong Kong in mid-October created concern around the world and affected other stock markets, including that in the U.S., which lost a large percentage of its value in one day. The effect on Europe has been more as a threat on the one hand and an opportunity on the other. While the monetary collapse affected markets around the world, the primary effect on Europe has come from changed relations with the financial markets in East Asia.
From the Paper:
"The financial turmoil in East Asia has affected markets in different parts of the world and has had a particularly devastating effect on the countries of East Asia itself. Since the beginning of this year, the stock markets of Asia have collectively lost $400 billion in value, and the losses in Hong Kong in mid-October created concern around the world and affected other stock markets, including that in the U.S., which lost a large percentage of its value in one day. The effect on Europe has been more as a threat on the one hand and an opportunity on the other. While the monetary collapse affected markets around the world, the primary effect on Europe has come from changed relations with the financial markets in East Asia.
The failure of the monetary system has been blamed on the political systems in East Asia as much as on any economic ..."
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