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The indweller business crisis that was triggered in gregorian calendar month 1997 was a shocker. regular two years after it ended, mental state quiet loomed over global financial markets. What was at the time period perceived to be a localized currency and financial juncture in Thailand, shortly spreading to else south Asian countries--including Malaysia, republic of indonesia and the Philippines.




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BBC NEWS | Business | Financial crises: Lessons from history


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The current market nervousness are centred on disturbances in the world's credit markets. Worries about the viability of sub-prime mortgage lending feature disparity around the financial system, and the central financial organization human been move to shoe in billions of dollars to oil the wheels of lending. But what happened in early commercial enterprise crises, and what are the lessons for today?


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BBC NEWS | Special Report | 1997 | Asian economic woes | Thailand: The crisis starts

It was the devaluation of the siamese baht in gregorian calendar month that began a chemical chain of vogue devaluations across the region. Gordon Corera considers the origins of Thailand's financial crisis. After a period of economic decline in the early 80s, siam began a recovery after 1985 which peaked in 1988 with 13.2% GDP growth.

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