Examines what caused the stock markets of Southeast Asian countries to crash.
Written in 2004; 4,314 words; 24 sources; MLA; $ 114.95
Paper Summary:
The old cliche claims that if it is too good to be true, it usually is. Investors and speculators- reputable international banks, brokerages, real estate manipulators and arbitrage professionals, rushed to the new open markets in Southeast Asia. The paper shows that the governments there were eager for investment, but they had little or no regulatory controls in place. The stock markets in Thailand and Manila, in Singapore and Hong Kong went through the roof, only to crash and leave countless people owing billions of dollars, and the economies of many nations in Southeast Asia in tatters. The paper examines the causes of the crash and its influence on the U.S. economy.
Paper Outline:
Introduction
Its Causes
The Derivatives Fiasco
United States Actions and Reactions
Consequences of the Crisis
What Asian Governments are Doing
Effects of the Crisis on the U.S. Economy
Some Final Thoughts
References
From the Paper:
"The global position of the United States declined by roughly $25 billion (as, incidentally, did Western Europe's). This implies that, for the United States, it adds nearly $60 billion to the trade deficit - and even more in real terms (relevant to production and employment). Most of this deficit is due to the low valuation of South Korean and Japanese currency, prompting more imports into the United States. Deficits with Japan will increase by roughly $25 billion, and with South Korea, will increase about $10 billion. That means, Japan's surplus will increase more than $80 billion, all because of the Asian financial turmoil."
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