During the crisis, which is affecting many countries in Asia, starting from July 2540, causing fears of economic collapse caused a global epidemic since the financial crisis began. Thailand When the Thai baht fell sharply due to the decision of the Government of Thailand. The General Chavalit Prime Minister Yongchaiyudh The floating of the baht Based on cutting the US dollar. After all efforts to support the baht in the face of spreading an overstatement Financial (financial overextension) severely, especially the drive property at that time, Thailand's public debt, which puts the country in a state of bankruptcy earlier. The collapse of the money And when the crisis expanded from the country. The monetary value of most countries in Southeast Asia and Japan also fell as well. Exchange dropped as well as other assets and private debt soared [1] Even well known that this crisis exists and is affected. It is not clear, however, that the causes of such crises. As well as the scope and solutions, Indonesia, South Korea and Thailand have been most affected by the crisis, Hong Kong, Malaysia, Laos and the Philippines also face currency collapse as well. China, India, Taiwan, Singapore, Brunei and Vietnam have been less affected. Although all of these are affected by the loss of demand and confidence throughout the region, the foreign debt to GDP ratio increased from 100% to 167% in the four large ASEAN countries during the year. Prof. 2536-38 before going up to as high as 180% over the worst crisis in Korea, the ratio increased from 13% to 21% and peaked at about 40%, while the newly industrialized countries of the north. less affected Only in Thailand and South Korea, only the ratio of debt service to exports increased [2] Although most governments in Asia have a monetary policy that looks perfect. But the IMF (International Monetary Fund) has stepped in to initiate projects worth 40,000 million US dollars to stabilize the currency in South Korea, Thailand and Indonesia. This is a country that has been hit the hardest by the crisis. Efforts to contain the global economic crisis has helped stabilize the domestic situation in Indonesia was little. President Suharto was forced to resign on May 21, 2541, after more than 30 years in power amid widespread riots occurred, which comes from the rise in commodity prices severely. As a result of the weakening rupiah serious. The impact of such crises lasted until the end of 2541, the same year. Philippine economic growth rate dropped to almost zero. Only Singapore and Taiwan, which proved almost did not take part in any crisis. But both countries have also been severely affected normal. Singapore has more impact because of the size and geographic location between Malaysia and Indonesia, however, until the year 2542, analysts have seen signs that the Asian economies are beginning to recover.
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