Stormy weather

Article Abstract:

The Asian currency markets had concluded that Asia's economy was headed toward recession months before Japan released figures that officially declared recession. The yen continues to fall because the Japanese are not spending money and because such savings are being invested outside of Japan. The economic turmoil is related to a succession of economic-stimulus packages that have failed to revitalize the economy.

Economic aspects, Japan, Asia, International economic relations

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And now, Korea: Asia's funk deepens, but look for the silver lining

Article Abstract:

South Korea's efforts to prop up the won finally succumbed to the region economic crisis, with the won falling to nearly 1,100 to the US dollar from 900 in July '97. It was followed by the bankruptcy of a major Japanese securities dealer, Yamaichi. Even with an anticipated International Monetary Fund bailout of Korea, such upheavals are sure to dampen the world economy.

South Korea, International Monetary Fund, Prices and rates, International relations, South Korean foreign relations, International finance, Won (Korea)

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