ChinaandtheAsianFinancialCrisis-UniversityofMississippi.pptVIP

Mainland China and the Asian Financial Crisis Asian Financial Crisis of 1997 Thai currency lost half its value in 6 months replicated in Malaysia, South Korea, Indonesia, etc. in various degrees rapid outflow of foreign capital plunges in stock markets declines in exchange rates of currencies banking crisis problems of short-term debt repayment Impact on mainland China Asian Financial Crisis important impact on domestic political economy given the new openness to world economy was not the main force of transformation China’s domestic transition Deng Xiaoping’s “southern tour” of 1992 “socialis