Economic crisis in South-east Asia
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document in english
economics
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published 28/07/2008
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SummaryIn order to fully appreciate the nature of the economic crisis in south-east Asia, it would be necessary to have at least some insight into the nature of these economies prior to the financial problems they experienced1. Before the onset of the Asian crisis, the south-east Asian countries concerned or the ‘tiger economies’ as they are also known, experienced exponential growth right from the 1960 to the early 1990s1a. This supernormal growth was termed by experts as the ‘Asian Miracle’. The first thing worth noting is the fact that each of these tiger economies was extremely diverse in terms of natural resources, demography, culture, social and economic policy1b.
Table of Contents
- The factor which leads to the unprecedented expansion.
- The unprecedented and unhealthy levels of competition in South Korea.
- Countermeasures which countries took in order to rectify the problem.
- Lesson that were learned from the South-East Asian economic crisis.
- Conclusion.
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