Globalisation:International Monetary Fund: The East Asian Crisis

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The global economic crisis began on July 2, 1997 in Thailand. Previous decades had seen the countries of East Asia improve dramatically, incomes had soared, health had enhanced and poverty had decreased rapidly. Some of the countries had not experienced a single year of recession in almost 30 years.[1]

Towards the beginning of the 1990s, East Asian countries had liberalized their financial and capital markets because of increased national pressure form the U.S Treasury Department.[2]

notes

  1. ↑ Joseph Stiglitz "What I learned at the World Economic Crisis http://www.mindfully.org/WTO/Joseph-Stiglitz-IMF17apr00.htm 04/03/08"
  2. ↑ Joseph Stiglitz "What I learned at the World Economic Crisis http://www.mindfully.org/WTO/Joseph-Stiglitz-IMF17apr00.htm 04/03/08"
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