Financial Crisis in Asia, 1997
The world stock markets experienced a turbulent year in 1997 but it was felt most acutely in Asia.
Hong Kong’s stock exchange saw record drops and rises. In October Hong Kong stocks lost 30 percent following a record high in August.
In Thailand the currency fell by more than 50 percent against the dollar affecting rich and poor alike. A series of week governments, massive corruption and an economy which grew too fast are blamed for Thailand’s quagmire.
