Warning: Use of undefined constant referer - assumed 'referer' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 102

Warning: Use of undefined constant host - assumed 'host' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 105

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 106

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 109
The Asian Financial Crisis - Online Term Paper

The Asian Financial Crisis

As you know Asia is going through a financial crisis right now. What we have to realize is, that in the global economy everything is connected to everything else.
The global effects of the crisis are practically everywhere. It’s caused the Gross Domestic Product to callapse 38% in the nations know as the Asian Tigers. The economist estimates China’s bad bank debt at 18% of GDP however, the Tunnel, an accurate unofficial Chinese magazine, estimates bad debt at 70% of GDP.
Now the way that the crisis has effected the US are interest on the 30 year bonds are at record lows and the US bond future, are at record highs. Last year Thailand canceled a $400 million purchase of eight F/A-18s made ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

hit their lowest point in more than four years. The cause of all of this is too much borrowed money and too much corruption. It’s also affecting steel factories and Washington apple growers. Despite all this the US economy is steaming ahead.

The actions that are being taken to deal with what is taking place in Asia and America is that Japan is plans a bank-bailout plan worth $573.7 billion. The US and Japan announced proposals to pump an additional $10 billion into troubled Asian economies. Japan is also lowering interest loans to help troubled Asian countries. The loans will be far project such as roads, bridges, power stations and airports, this will help Japan because the contractors must be Japanese companies.

This should tell you that all of the world’s economies affect each other. It’s especially important when Japan is our #1 trading partner and when the slump might affect Latin America and other Third World regions. To stop the problem from escalating and ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.

Already a member? Login

CITE THIS PAGE:

APA
MLA
Chicago
Turabian

The Asian Financial Crisis. (2007, March 4). Retrieved December 23, 2024, from http://www.essayworld.com/essays/The-Asian-Financial-Crisis/61260

"The Asian Financial Crisis." Essayworld.com. Essayworld.com, 4 Mar. 2007. Web. 23 Dec. 2024. <http://www.essayworld.com/essays/The-Asian-Financial-Crisis/61260>

"The Asian Financial Crisis." Essayworld.com. March 4, 2007. Accessed December 23, 2024. http://www.essayworld.com/essays/The-Asian-Financial-Crisis/61260.

JOIN NOW

Join today and get instant access to this and 50,000+ other essays

PAPER DETAILS

Added: 3/4/2007 09:34:19 PM
Category: Economics
Type: Premium Paper
Words: 386
Pages: 2

Save |

Report

SHARE THIS PAPER

SAVED ESSAYS

Save and find your favorite essays easier