1997 Asian financial crisis  

From The Art and Popular Culture Encyclopedia

Jump to: navigation, search

Related e

Wikipedia
Wiktionary
Shop


Featured:

The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.

The crisis started in Thailand (known in Thailand as the Tom Yam Kung crisis; Thai: วิกฤตต้มยำกุ้ง) on 2 July, with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt.

See also

General:





Unless indicated otherwise, the text in this article is either based on Wikipedia article "1997 Asian financial crisis" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

Personal tools