The Crisis, 10 Years After

THIS July marks the 10th anniversary of East Asia’s financial crisis. In July 1997, the Thai baht­ plummeted. Soon after, financial panic­ spread to Indonesia and Korea, then to Malay­sia.­ In a little more than a year, the Asian finan­cial crisis became a global financial crisis, with the crash of Russia’s ruble and Brazil’s real.

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