What happened in Thailand to cause the 1997 financial crisis?
446228
Land speculation.  Thais prize land more than anything else.  They give it as gifts to children, they invest in it like we buy stocks and savings bonds.  Every couple of decades or so they start bidding up land for some reason.  As the fervor builds, prices reach unreasonable and unsustainable levels, then the whole thing crumbles.  It's not unlike a stock run-up, except that the result is even more devastating.
484597
I assume you mean the takeover by Mandela and company?  Terrorism and the intervention of American bleeding-heart liberals is how it was "incorporated into the world system".  Since then their economy has gone to hell in a hand basket and is not getting any better.  The people who took over were the old communists wearing a different name.  Read your history.  If they haven't rewritten it already.
912535
Largely because just handing out aid fails to benefit the people who need it most, while food aid destroys what agriculture remains. If you can obtain corn, say, free of charge, then what incentive is there for farmers to grow it beyond their own requirement for subsistence? \n\nYou may recall that after the tsunami, the Thai prime minister said that they didn't need aid, what they needed was European markets opened to Thai goods. This is the real problem of protectionist blocks such as the European Union: Structures such as the Common Agricultural Policy create surpluses, which are dumped ont he world market at prices below the cost of production. This drives 'third' world farmers out of business. \n\nThe idea of 'fairtrade' is that it pays farmers directly for products from the 'third' world. Like the whole 'trade not aid' argument, it encourages economic growth and self-sufficiency rather than a reliance on aid. \n\nLinked below is an o-ed from the Guardian newspaper which outlines some of the points.
908660
the downfall of turkey, the breakup of china, and the overthrow of grease..\n(greece)
653164
It was actually a bank in NY I believe that needed to borrow money, other banks refused and so did the FED, which led to the bank going under and then the stock market crash. I'll do a little research to give you dates etc...but that's what I was taught last term in college econ. class.\n\nI don't have my notes with me so I don't remember exactly how it all fell together, but I have provided some sites for refrence. I hope this helps a little even if my answer is garbled.\n\nAnd I think it was the stock market crashed so everyone rushed to the banks to withdrawl their money...since the banks loan out about 90 percent of their money there wasn't enough to return to people, which lead to the need for a loan...etc etc. \n\nI remember that this guy had the tellers act normal in the crisis. Tell them sure they could close the account and give them their money and COUNT THE MONEY OUT SLOWLY, act normal even if the lines were long, don't stress out, etc etc, after a few days of doing this, eventuallly things seemed normal and the panic dwindled down to normal. \n\nStill researching...for sites\n\nthis one is good really good MSN seems to always provide good information it's 2 pages though http://encarta.msn.com/encyclopedia_761584403/Great_Depression_in_the_United_States.html also a few other sites. Hope this helps. Are you doing a report?
125181
Wall street goes through periods of greed and euphoria, followed by fear and remorse. The roaring 20's were followed by the great depression. History repeats itself unless the lessons are learned.\nIn the late 1990's easy money was being made by investing in tech companies. It was a self fulfilling prophesy, with Henry Blodgett of Merrill Lynch only to willing to stoke the frenzy with repeated buy recommendations. When the buying stopped and the selling began, it was every man for himself and the house of cards collapsed.  Tell your grand kids about it 'cause it WILL happen again.
1102112
The biggest was caught in Thailand. Around 600 pounds.
303521
i don't think thats what caused it. maybe it was something that happened in Vietnam
1125817
First shock in the early 1970's was caused by an oil embargo by the Arab members  of OPEC. The second shock in the late 1970's was caused by an Iranian oil embargo to the U.S.\n\nThis oil shock is being caused by excessive world wide demand expecially from developing nations as India and China.
84788
Yes.\n\nThe main causes are \nA) increasing financing of our federal debt by foreign countries. If China decides to stop buying our debt, or worse, asks for an immediate payback, we'd be unable to finance many of our present governmental functions. Of course, we'd find a way to keep the police departments and such running, but it'd require massive congressional overhaul, governmental regulation of an enormous scale, and a huge upheaval in our free market. \n\nB) the increasing cost of oil. If oil barrels hit $100, you'd see gas prices of 6-7 dollars per gallon. Huge layoffs, massive stock selling, and sky high prices on goods and services. Milk would be four or five bucks a gallon. Coffee would cost 12 or 13 bucks. Inflation would drive all prices up, interest rates on credit cards could exceed 40% annually as a rule, and the entire populace would be close to bankruptcy.\n\nOf course, we'd find our way out of the mess. But, for a few years, it'd be like the Great Depression all over again.
516270
I like this question and feel stupid that I don't know the answer. I should have taken that class on Central Banks. My guess is that it is a combination of the money supply, interest rates and government assets held (tresuries) by other countries.
233424
I think that it is in a worse state than before.  Sure, it looks like the Peso is getting more stable against the dollar but that's because the dollar got weaker by the Yen.  So it's a false sense of security.  Your president is also very dangerous curtailing the basic freedoms of society and touting all the while in media that she is oh so good. It's a dictatorship in disguise which is much worse because the people are lulled into a sense of complacency when it comes to upholding and fighting for democracy.
426382
No, that led to all kinds of perversions of market forces in the past. Liquidity is also an issue. \n\nIf it ain't broke, don't fix it.
234899
Simple economics. USD is becoming weaker because of inflation, the US government printing a lot of money, huge government debt, and about a million other reasons.
68642
There is information on 1929 stock market crash in this website. (see below)\n\nhttp://www.btinternet.com/~dreklind/thecrash.htm
40616
Well they had to try - some interventions in the past had been successful.\n\nOne of the outcomes of the 1997/98 crises was the shocking realisation that that the size of market agents compared to regulators/central banks had clearly changed, as did the balance of power.
222954
I think that's because floating exchange rate system has an advantage that it can reflect supply and demand of market derectly to the exchange rate between currencies.  And you don't have to spend your foreign reserves.\n\nIn fixed rate sysytem, governments are required to use their foreign reserves to keep exchange rate at the fixed value.  But sometimes they used up all reserves and no longer are able to maintain fixed rate system.\n\nIn 1998, Thailand and Indonesia floated their currencies just because they exhausted all their reserves.