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The Causes Of The Asian Crisis
Beginning of Essay
There are many speculations about . From my research I found out that there is quite a number of reasons for the Asian currency crisis. There is a book called; The East Asian Miracle, which was published by the World Bank. This book expressed the relationship bet .... Middle of Essay
.... then Malaysia, Thailand, Indonesia and the Philippines. These countries achieved very remarkable rates of growth and development. They built high quality manufacturing industries from clothes to computers. (What went wrong? Hoover Digest 1998 No.3 William McGurn)
In the paper written by William McGurn "What went wrong?", he explained that the people's minds in Asia only understood the word miracle and the banks failed to recognize the risks and credits of the bloom. The banks also failed to realize that they were only being used as policy arms by the government. The only word that stuck in people's minds in Asia was the word miracle. They therefor f ....
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Words: 1036 - Pages: 4
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