Talk:1997 Asian financial crisis

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Indonesia

My Indonesian friend said that during the crisis, a lot of indonesian people further compounded the problem by selling out their own currency and buying foreign money (such as USD) and send it out of the country. Some people got rich at the expenses of the rest of the country.

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Comments from a Thai

Hi, I am a Thai here. I want to comment about this article. First of all, to the person who asked about this, IMF was very prominent to the local people at the time and "IMF Crisis" is not so inaccurate. What I really want to comment is, however, the fact that the crisis is also known as "Tom Yum Kung Disease". Tom Yum Kung is a very famous Thai food and SE Asia called the crisis Tom Yum Kung Disease since it started from Thailand.

Russian financial system

Russian financial system had also catch fire meanwhile (we know it as "an August"). So this should not be really called asian, it affected a lot of countries which had economic growth worldwide.

Yesterday (crisis lyrics)

Yesterday, all my Soros seemed so far away Now it look as though they're here to play Oh, I believe in yesterday

Suddenly, Baht's(or insert name of other currency) not half the worth it used to be There's a short sell hanging over it oh, yesterday came suddenly

Why funds had to go I don't know, they wouldn't say I said something wrong, now I long for yesterday

Yesterday, shares was such an easy game to play Now I need a place to hide away oh, I believe in yesterday

Why funds had to go I don't know, they wouldn't say I said something wrong, now I long for yesterday

Yesterday, shares was such an easy game to play Now I need a place to hide away oh, creditors, please go away Mm

East Asian Financial Crisis versus Asian Financial Crisis

Only 10 percent of the top 100 hits in Google's index are calling this the East Asian Financial Crisis rather than the Asian Financial Crisis. Shouldn't Wikipedia conform to general usage?

Malaysia and IMF

It seems to me that Malaysia and the IMF needs to be mentioned more. Since Malaysia AFAIK largely ignored the IMF's recommendations and offers it's from what I can gather an interesting case study often used to try and ascertain whether the IMF policies were really a bad idea or not. While as with most economic issues, there doesn't appear to be any real agreement, and comparing Malaysia and it's recovery with other countries like Indonesia, Thailand etc is difficult it seems to me that some mention needs to be made of the comparison between Malaysia and other countries which more followed the IMF more.

It seems to me that Malaysia and the IMF needs to be mentioned more. Since Malaysia AFAIK largely ignored the IMF's recommendations and offers it's from what I can gather an interesting case study often used to try and ascertain whether the IMF policies were really a bad idea or not. While as with most economic issues, there doesn't appear to be any real agreement, and comparing Malaysia and it's recovery with other countries like Indonesia, Thailand etc is difficult it seems to me that some mention needs to be made of the comparison between Malaysia and other countries which more followed the lead.

Updated Source for #49 Janet L. Yellen. Speech to the Asia Society of Southern California, Los Angeles, California, 6 February 2007 Jump up ^

The text still survives at the following URL

http://www.frbsf.org/our-district/press/presidents-speeches/yellen-speeches/2007/february/the-asian-financial-crisis-ten-years-later-assessing-the-past-and-looking-to-the-future/

I do not know how to update this source properly.