The Lexus And The Olive Trees
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Title: The Lexus And The Olive Trees

Essay Details:

Subject: Miscellaneous
Author: Nora J
Date: November 17, 2013
Level: University
Grade: A
Length: 8 / 2346

Essay text:

Almost overnight, these private banks had been bankrupted by the crash of the Thai currency, the baht. This situation caused a domino effect on other leading businesses that caused money problems. Many businesses couldn’t pay the finance houses back, many finance houses couldn’t repay their foreign leaders and the whole system went into gridlock putting 20,000 white-collar employees out of work. The Thai crisis triggered a general flight of capital out of practically all the Southeast Asian emerging markets, driving down the value of currencies in South Korea, Malaysia and Indonesia. Southeast Asian slowdown began to have an important effect on commodity prices around the world, including Russia...

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