Thursday, July 05, 2007

10 Years After Asian Financial Crisis: A Reflection

OK, once again, I know this is a bit late, but better late than never I suppose ;)

I'll be appearing in a largely Mandarin forum (my slides will have English text) tonight to discuss the above topic. My counterpart is Dr Ho Kee Peng, an entertaining and well-known analyst in political and economic issues in the forum circuit.
Date: July 5th, 2007
Time: 7.30pm
Venue: Selangor Chinese Assembly Hall
This forum is organised by Oriental Daily.

An excerpt on the Asian Financial Crisis taken form Wikipedia:

Until 1997, Asia attracted almost half of total capital inflow to developing countries. The economies of Southeast Asia in particular maintained high interest rates attractive to foreign investors looking for a high rate of return. As a result the region's economies received a large inflow of hot money and experienced a dramatic run-up in asset prices. At the same time, the regional economies of Thailand, Malaysia, Indonesia, the Philippines, Singapore, and South Korea experienced high growth rates, 8-12% GDP, in the late 1980s and early 1990s. This achievement was broadly acclaimed by economic institutions including the IMF and World Bank, and was known as part of the Asian economic miracle.

Whatever the disputed causes, the Asian crisis started in mid-1997 and affected currencies, stock markets, and other asset prices of several Southeast Asian economies. Triggered by events in Latin America, particularly after the Mexican peso crisis of 1994, Western investors lost confidence in securities in East Asia and began to pull money out, creating a domino effect.

See you there! ;)

5 comments:

agnos said...

you always like that-la fren..

Anonymous said...

Another bs from DAP fanatic, only able to attract and indoctrinate pendatangs only through a foreign language. Pl dont pollute the air

Anonymous said...

Anoymous 944 pm,

If you don't like the forum, don't go. No need for idiotic and racist remarks from the likes of you.

Anonymous said...

I think Malaysia have not recovered at all from the 97 crisis. while the stock market is doing pretty well, its all internally generated and not from foreign funds.

i am from JB, and i think JB would have been a ghost town if not for ppl working in Singapore and bringing in sing.dollars. now that the coppers are catching the bad hats of Jb (triads) things will get even worse. (they are the big spenders of JB). mind you, those causing harm, rape and rob are those small frys with motorbikes and those jobless and nameless on the streets. not those 'taiko' who has all the money already.

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