Drop everything

Article Abstract:

The Thai baht devaluation of Jul 1997 may mark the beginning of a profound change in Southeast Asian economies. Southeast Asian economies have benefited for a decade from stable exchange rates linked to the US dollar. This helped their exporters in their most important market and provided encouragement to foreign investors. The Thai situation has ushered in a period of adjustment and slower growth in Southeast Asian economies, and has disclosed the limits of regional monetary cooperation. The economies which can adjust to the new flexible exchange rate situation will emerge stronger then ever.

Thailand

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Now for the hard part

Article Abstract:

An overview of the Southeast Asian 1997 financial crisis reveals the structural problems which led up to it, and the responses which are necessary to ensure recovery. Economic growth is weakening in the wake of the currency crisis, and this is revealing the structural weaknesses which had previously been disguised by the continuing inflow of cheap capital. The regional governments need to stand back from their defensive responses to the crisis, study and acknowledge their problems, and make changes to ensure further growth is more solidly based.

Economic Programs, Administration of Economic Programs, Economic policy, Economic development

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Reason takes over

Article Abstract:

The amount of spending on infrastructure in Asia in Asia has been reassessed due to slower economic growth and the need to repay dollar debts with local currencies that have dropped in value. This has especially affected Indonesia where many projects were of dubious value and were funded with dollar debt prior to the crisis. China is approving power plants, though at a slow pace. Taiwan is virtually the only country in southeast Asia that has not put on hold ambitious plans for investment in infrastructure.

Construction, Infrastructure (Economics)

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