east asian crisis
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Title: east asian crisis

Essay Details:

Subject: Business
Author: John P
Date: December 10, 2014
Level: University
Grade: A
Length: 5 / 1323

Essay text:

For it implied that the "economic fundamentals" in East Asia were fatally flawed, yet only a few months or even weeks before the crisis erupted, the countries had been praised as models of sound fundamentals to be followed by others. And in 1993 the World Bank had coined the term the East Asian Miracle to describe the now vilified economies. In an attempt to blame the crisis solely on the affected countries, intellectual "flip-flops" were made. Features that had been toasted as strengths were overnight concerted into evils. For example, the countries had been praised (indeed, over-praised) for having strong linkages between the public and private sectors...

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