Tag: East Asia

20 Years After the East Asian Crash – Is History Repeating Itself?

Twenty years ago, a run on the Thai currency triggered a financial crisis that quickly devastated the economy of the entire region, sinking the currencies of Thailand, Indonesia, and South Korea and ultimately spreading as far as Russia and Brazil. Far from ‘lessons being learned’, history looks worryingly set to repeat itself. On July 22, 1997, Thailand’s Prime Minister Chavalit...