East Asian Economy A large economic downturn in East Asia threatens to end its nearly 30-year run of high growth rates. The crisis has caused Asian currencies to fall 50-60%, stock markets to decline 40%, banks to close, and property values to drop. The crisis was brought on by currency devaluations, bad banking practices high foreign debt, loose government regulation, and corruption. Due to East Asia’s large impact on the world economy, the panic in …showed first 75 words of 776 total…

…showed last 75 words of 776 total…efficient government. Considering the size of Asia’s contribution to the world economy, a rapid recovery will be greatly anticipated. Bibliography Bibliography  William L. Shirer, ‘The Rise and Fall of the Third Reich’, pages. 58-61.  David Hackett Fischer, ‘The Great Wave’, pages 192-193.  Erik Achorn, ‘European Civilization and Politics since 1815’, (London: 1935), pages. 561 - 562.  David Johnson, ‘Asian Fall’, pages. 343-442.  Economist, articles 5,6 and statistics on Japan, Indonesia, China and Thailand.  Nuffield Business and Economics, pages 300-385.