Asian financial crisis
07/02/1997 AD suffered
The crisis started in Thailand (known there as the Tom Yam Kung crisis; วิกฤตต้มยำกุ้ง), with the 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.
Investors deserted emerging Asian shares, including an overheated Hong Kong stock market. Crashes occur in Thailand, Indonesia, South Korea, Philippines, and elsewhere, reaching a climax in the October 27, 1997 mini-crash.
Subjects Who or What suffered?
-
-
-
-
-
-
Malaysia Country in Southeast Asi... -
Laos (Lao People's Democratic Republic) A socialist state and th...
Events in 1997 MORE
