Asian monetary crisis
Asian Financial Crisis
The Asian financial crisis was a series of currency devaluations and other events that spread through many Asian markets beginning in the summer of
Description:The Indonesian economy and social indicators were still showing worrying signs. This provocative new cabinet contained a number of members from his crony-group and therefore did little to restore confidence in the Indonesian market. Large companies that had seemed healthy enough are now in difficulties. Although the IMF had given Suharto time until October to reduce these subsidies gradually, he decided to do it all at once, probably underestimating its impact or overestimating his own position. Its problems stem in large part from the world over-capacity in cars and the additional problems of new entrants into foreign car markets.
User Comments 5
Post a comment
Comment: