Asia
Article Abstract:
Asian economies have been hit by a drop in investor confidence in Thailand linked to the devaluation of the Thai baht, which has spread to other economies. Indonesian, Malaysian and Philippine currencies have been under pressure. There are particular circumstances affecting Thailand such as a large current account deficit, reliance on foreign debt, a heavy load of bad debts in the financial sector and lack of political leadership. Other countries in the region are not affected by these factors to the same extent so the impact of Thailand's problems should be limited.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1997
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Asia
Article Abstract:
The Asian financial crisis has affected a number of countries including Indonesia and South Korea. Short-term debt is a problem in S Korea, and an agreement with the International Monetary Fund to tackle the debt crisis will mean economic reforms have to be carried out. Hong Kong's peg to the US dollar has been retained and there would be little benefit from devaluation. There are a number of reasons why the Chinese renimbi should not be devalued. Unemployment and inflation are likely to rise in Asia, while economic growth is likely to slow in real terms in 1998.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1998
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Asia(Asian economies and forecasts for 1998)
Article Abstract:
Asian economies have been affected by a currency crisis which began with a drop in value of the Thai baht. Stock prices have also dropped. The worst of the crisis may be over, with markets having overshot. Governments have had to reassess fiscal and monetary policies. Interest rates have been raised and gross domestic product is likely to grow more slowly in 1997 and 1998. There is concern about the impact of bad debts on the banking industry and about increases in the cost of servicing debt in foreign currencies.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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