- published: 27 Dec 2020
- views: 240854
1997 Asian financial crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.
The crisis started in Thailand (well known in Thailand as the Tom Yum Goong crisis; Thai: วิกฤตต้มยำกุ้ง) with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. As the crisis spread, most of Southeast Asia and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt.
Indonesia, South Korea and Thailand were the countries most affected by the crisis. Hong Kong, Laos, Malaysia and the Philippines were also hurt by the slump. Brunei, China, Singapore, Taiwan and Vietnam were less affected, although all suffered from a loss of demand and confidence throughout the region.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/1997_Asian_financial_crisis
Financial crisis
The term financial crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in changes in the real economy.
Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time.
Types
Banking crisis
When a bank suffers a sudden rush of withdrawals by depositors, this is called a bank run. Since banks lend out most of the cash they receive in deposits (see fractional-reserve banking), it is difficult for them to quickly pay back all deposits if these are suddenly demanded, so a run renders the bank insolvent, causing customers to lose their deposits, to the extent that they are not covered by deposit insurance. An event in which bank runs are widespread is called a systemic banking crisis or banking panic.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Financial_crisis
Financial crisis of 2007–08
The financial crisis of 2007–08, also known as the global financial crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s. It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity".
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Financial_crisis_of_2007–08
Panic of 1873
The Panic of 1873 was a financial crisis that triggered a depression in Europe and North America that lasted from 1873 until 1879, and even longer in some countries. In Britain, for example, it started two decades of stagnation known as the "Long Depression" that weakened the country's economic leadership. The Panic was known as the "Great Depression" until the events in the early 1930s took precedence.
The Panic of 1873 and the subsequent depression had several underlying causes, of which economic historians debate the relative importance. Post civil war inflation, rampant speculative investments (overwhelmingly in railroads), a large trade deficit, ripples from economic dislocation in Europe resulting from the Franco-Prussian War (1870-1871), property losses in the Chicago (1871) and Boston (1872) fires, and other factors put a massive strain on bank reserves, which plummeted in New York City during September and October 1873 from $50 million to $17 million.
The first symptoms of the crisis were financial failures in the Austro-Hungarian capital, Vienna, which spread to most of Europe and North America by 1873.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Panic_of_1873
Podcasts:
-
The 1997 Crisis: The Greatest Asian Crisis in History? - VisualPolitik EN
Check out our brand new channel, Visual Academy: https://www.youtube.com/channel/UC00VXLPfLevjlZUhb3XkDhQ If you want to know more about Value School's work, check out their website here: https://value.school In the early 1990s, the countries of Southeast Asia along with South Korea seemed to be taking on the world. Banks, investment funds, pension funds, insurance companies... Everyone wanted a piece of the action and the money was pouring in. Thailand, South Korea, Malaysia, Indonesia and the Philippines were the trending countries. However, on 2 July 1997, everything fell apart. On that day, one of the greatest financial cataclysms in human history suddenly began to unfold. In just a few months, the entire world would see these once booming and prosperous economies on the verge o...
published: 27 Dec 2020 -
The first modern financial crisis in the globalized world | DW Documentary
When the Asian financial crisis hit, it was something the world hadn‘t seen since the 1930s. For the first time since World War II, the global economy faced the very real threat of a complete collapse. Disturbingly, the sudden crisis came as a complete surprise. In the late 1990s, the world economy seemed to be on a steady path of growth. This trajectory was driven primarily by the emerging economies of Southeast Asia, the global region with the strongest economic growth. Then, within a very short time, millions of people suddenly lost their livelihoods. Hunger, mass unemployment and uprisings returned to these previously prosperous countries. What was particularly disturbing to crisis managers at the time was that they had not anticipated the crisis, and were not prepared for it. Their h...
published: 16 Nov 2022 -
How Asian Countries Failed? | 1997 Asian Financial Crisis | Explained | Ayushi Chand
In this video, we discuss an important case study in the global economic history, wherein everything that could possible go wrong went wrong. The Asian Financial Crisis was a watershed moment in the history of the world which led to the emergence of a new world order of regional economic cooperation in the form of the Chiang Mai Initiative and the G20. Watch at 1.5x. Learn about the crisis, the causes, the repercussions and the lessons learnt here. 01:20 Introduction 02:09 Causes for the Crisis 07:49 Consequences of the Crisis 09:30 Reforms Introduced 12:09 Lessons to be learnt 14:30 Conclusion ***************** Pakistan on the verge of collapse?: https://www.youtube.com/watch?v=v0tldRvCJxo&t=910s ***************** Subscribe to the channel to learn more about Government, Economics, ...
published: 17 Sep 2023 -
1997 Asian Financial Crisis: The Story and Lessons Learned
Thanks for watching "1997 Asian Financial Crisis | The Story and Lessons Learned" Today, we’re going to be talking about the Asian Financial Crisis. Now, you’ve probably heard about it in your classes in school, but are you really familiar with what went down during that time period? The Asian financial crisis, also known as the “Asian Contagion” refers to the sequence of currency devaluations back in 1997 that affected a great number of Asian markets. Affected nations included Thailand, South Korea, Malaysia, Singapore, Indonesia, and the Philippines. The crisis had severe macroeconomic-level effects- sharp dips in currency values, fluctuation of stock market, and change in asset prices. As a result of this financial crisis, many businesses failed and collapsed, and millions of citizens ...
published: 16 Nov 2020 -
Asian Financial Crisis of 1997
published: 28 Aug 2014 -
Mahathir vs The IMF: The 1997 Asian Financial Crisis | Insight | CNA Insider
20 years since the Asian Financial Crisis, a look back at how Malaysia's then-Prime Minister Mahathir Mohamad defied the International Monetary Fund, and his subsequent clash with his deputy Anwar Ibrahim. Has Malaysia come out of the crisis for better or for worse in the long run, as a result of his rejection of the IMF's measures? The full Insight episode: https://cna.asia/2uVoe5t
published: 25 Jul 2017 -
What Caused 1997 Asia's Financial Crisis?
Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Asian Crisis” During 1997-98, many of the East Asian tiger economies suffered a severe financial and economic crisis. This had big consequences for the global financial markets, which had become increasingly exposed to the promise that Asia had seemed to offer. The crisis destroyed wealth on a massive scale and sent absolute poverty shooting up. In the banking system alone, corporate loans equivalent to around half of one year's GDP went bad - a destruction of savings on a scale more usually associated with a full-scale war. The precise cause of the crisis remains a matter of debate. Fingers have been pointed at the currency peg adopted by some countries, and a reduction of c...
published: 25 Nov 2015 -
एशिया का वित्तीय संकट और उसके घातक परिणाम [The Asian Financial Crisis] | DW Documentary हिन्दी
जब एशियाई वित्तीय संकट आया, तो यह कुछ ऐसा संकट था जिसे दुनिया ने 1930 के दशक से नहीं देखा था. द्वितीय विश्व युद्ध के बाद पहली बार, वैश्विक अर्थव्यवस्था पूरी तरह से खत्म होने के वास्तविक खतरे का सामना कर रही थी. यह परेशान करने वाला संकट, अचानक आया और इसने पूरी तरह से सबको चौंका दिया. 1990 के दशक के उत्तरार्ध में, विश्व अर्थव्यवस्था स्थिर रूप से विकास के रास्ते पर अग्रसर थी. मुख्य रूप से इसका कारण थीं दक्षिण पूर्व एशिया की उभरती अर्थव्यवस्थाएं. दुनिया का यह क्षेत्र सबसे मजबूत आर्थिक वृद्धि वाला क्षेत्र था. फिर, बहुत ही कम समय में, लाखों लोगों की आजीविका अचानक चली गई। इन पहले से समृद्ध देशों में अब भूखमरी, बड़े पैमाने पर बेरोजगारी और विद्रोह वापस लौट आए. उस समय संकट प्रबंधकों के लिए खास तौर से परेशानी वाली बात यह थी कि उन्होंने संकट का अनुमान नहीं लगाया था, और इसके लिए वो तैयार नहीं थे. समस्...
published: 08 Dec 2022 -
Asian financial crisis of 1997: The Greatest Asian Crisis in History?
In this video, you will learn about the Asian financial crisis, what caused it, its effects, and the lesson learned. #asianfinancialcrisis #financialcrisis #wallstreetmojo #marketcrash #economicmeltdown Chapters: 00:18 – Introduction 00:35 – The Asian financial crisis of 1997 01:37 – Causes and effects 02:51 – How did the IMF help solve the Asian financial crisis? 04:16 – Conclusion The Asian financial crisis of 1997 The Asian financial crisis of 1997 was triggered by the currency devaluations in Thailand caused by unsustainable borrowing practices and the inability to maintain exchange rates after unpegging from the US Dollar. This led to similar devaluations and stock market declines in other Asian countries, particularly Thailand, South Korea, Indonesia, Malaysia, the Philippines, a...
published: 08 Dec 2023 -
Looking back at Asian financial crisis 20 years after
Many considered July 2, 1997 as the day the Asian financial crisis began, when the Thai Baht dropped by as much as 20 percent. Subscribe to the ABS-CBN News channel! - http://bit.ly/TheABSCBNNews Visit our website at http://news.abs-cbn.com Facebook: https://www.facebook.com/abscbnNEWS Twitter: https://twitter.com/abscbnnews
published: 03 Jul 2017
developed with YouTube
12:52
The 1997 Crisis: The Greatest Asian Crisis in History? - VisualPolitik EN
- Order: Reorder
- Duration: 12:52
- Uploaded Date: 27 Dec 2020
- views: 240854
Check out our brand new channel, Visual Academy: https://www.youtube.com/channel/UC00VXLPfLevjlZUhb3XkDhQ
If you want to know more about Value School's work, c...
Check out our brand new channel, Visual Academy: https://www.youtube.com/channel/UC00VXLPfLevjlZUhb3XkDhQ
If you want to know more about Value School's work, check out their website here: https://value.school
In the early 1990s, the countries of Southeast Asia along with South Korea seemed to be taking on the world. Banks, investment funds, pension funds, insurance companies... Everyone wanted a piece of the action and the money was pouring in. Thailand, South Korea, Malaysia, Indonesia and the Philippines were the trending countries.
However, on 2 July 1997, everything fell apart.
On that day, one of the greatest financial cataclysms in human history suddenly began to unfold. In just a few months, the entire world would see these once booming and prosperous economies on the verge of collapse. The stock markets collapsed, the currencies depreciated to unimaginable levels and the recession hit the economies of these countries. Suddenly prosperity gave way to unemployment and widespread business failure.
In this new video made in collaboration with Value School, we tell you what happened and why one of the greatest financial crises of all time occurred: the great Asian financial crisis of 1997.
Support us on Patreon!
https://www.patreon.com/VisualPolitik
And don't forget to visit our friend’s podcast, Reconsider Media:
https://www.reconsidermedia.com/
https://wn.com/The_1997_Crisis_The_Greatest_Asian_Crisis_In_History_Visualpolitik_En
Check out our brand new channel, Visual Academy: https://www.youtube.com/channel/UC00VXLPfLevjlZUhb3XkDhQ
If you want to know more about Value School's work, check out their website here: https://value.school
In the early 1990s, the countries of Southeast Asia along with South Korea seemed to be taking on the world. Banks, investment funds, pension funds, insurance companies... Everyone wanted a piece of the action and the money was pouring in. Thailand, South Korea, Malaysia, Indonesia and the Philippines were the trending countries.
However, on 2 July 1997, everything fell apart.
On that day, one of the greatest financial cataclysms in human history suddenly began to unfold. In just a few months, the entire world would see these once booming and prosperous economies on the verge of collapse. The stock markets collapsed, the currencies depreciated to unimaginable levels and the recession hit the economies of these countries. Suddenly prosperity gave way to unemployment and widespread business failure.
In this new video made in collaboration with Value School, we tell you what happened and why one of the greatest financial crises of all time occurred: the great Asian financial crisis of 1997.
Support us on Patreon!
https://www.patreon.com/VisualPolitik
And don't forget to visit our friend’s podcast, Reconsider Media:
https://www.reconsidermedia.com/
42:27
The first modern financial crisis in the globalized world | DW Documentary
- Order: Reorder
- Duration: 42:27
- Uploaded Date: 16 Nov 2022
- views: 1406304
When the Asian financial crisis hit, it was something the world hadn‘t seen since the 1930s. For the first time since World War II, the global economy faced the...
When the Asian financial crisis hit, it was something the world hadn‘t seen since the 1930s. For the first time since World War II, the global economy faced the very real threat of a complete collapse. Disturbingly, the sudden crisis came as a complete surprise.
In the late 1990s, the world economy seemed to be on a steady path of growth. This trajectory was driven primarily by the emerging economies of Southeast Asia, the global region with the strongest economic growth. Then, within a very short time, millions of people suddenly lost their livelihoods. Hunger, mass unemployment and uprisings returned to these previously prosperous countries. What was particularly disturbing to crisis managers at the time was that they had not anticipated the crisis, and were not prepared for it. Their hasty attempts to correct the problem did not bear fruit for a long time - in fact, in the short-term, these measures worsened the situation. How could this happen?
Ten years later, in 2008 and 2009, the global economy was once again on the brink of a complete collapse. What became known as the Global Financial Crisis demonstrated how much our world depends on the financial market. In this documentary, world-renowned experts question whether the toxic threat of collapse might perhaps be an inherent part of our economic system. To date, there is no satisfactory answer to this question. One conclusion that can be drawn: we are still living on an economic powder keg, today.
#documentary #dwdocumentary #globalization #economy #economiccrisis
______
DW Documentary gives you knowledge beyond the headlines. Watch top documentaries from German broadcasters and international production companies. Meet intriguing people, travel to distant lands, get a look behind the complexities of daily life and build a deeper understanding of current affairs and global events. Subscribe and explore the world around you with DW Documentary.
Subscribe to:
⮞ DW Documentary (English): https://www.youtube.com/dwdocumentary
⮞ DW Documental (Spanish): https://www.youtube.com/dwdocumental
⮞ DW Documentary وثائقية دي دبليو (Arabic): https://www.youtube.com/dwdocarabia
⮞ DW Doku (German): https://www.youtube.com/dwdoku
⮞ DW Documentary हिन्दी (Hindi): https://www.youtube.com/dwdochindi
For more visit: http://www.dw.com/en/tv/docfilm/s-3610
Follow DW Documentary on Instagram: https://www.instagram.com/dwdocumentary/
Follow DW Documental on Facebook: https://www.facebook.com/dwdocumental
We kindly ask viewers to read and stick to the DW netiquette policy on our channel: https://p.dw.com/p/MF1G
https://wn.com/The_First_Modern_Financial_Crisis_In_The_Globalized_World_|_Dw_Documentary
When the Asian financial crisis hit, it was something the world hadn‘t seen since the 1930s. For the first time since World War II, the global economy faced the very real threat of a complete collapse. Disturbingly, the sudden crisis came as a complete surprise.
In the late 1990s, the world economy seemed to be on a steady path of growth. This trajectory was driven primarily by the emerging economies of Southeast Asia, the global region with the strongest economic growth. Then, within a very short time, millions of people suddenly lost their livelihoods. Hunger, mass unemployment and uprisings returned to these previously prosperous countries. What was particularly disturbing to crisis managers at the time was that they had not anticipated the crisis, and were not prepared for it. Their hasty attempts to correct the problem did not bear fruit for a long time - in fact, in the short-term, these measures worsened the situation. How could this happen?
Ten years later, in 2008 and 2009, the global economy was once again on the brink of a complete collapse. What became known as the Global Financial Crisis demonstrated how much our world depends on the financial market. In this documentary, world-renowned experts question whether the toxic threat of collapse might perhaps be an inherent part of our economic system. To date, there is no satisfactory answer to this question. One conclusion that can be drawn: we are still living on an economic powder keg, today.
#documentary #dwdocumentary #globalization #economy #economiccrisis
______
DW Documentary gives you knowledge beyond the headlines. Watch top documentaries from German broadcasters and international production companies. Meet intriguing people, travel to distant lands, get a look behind the complexities of daily life and build a deeper understanding of current affairs and global events. Subscribe and explore the world around you with DW Documentary.
Subscribe to:
⮞ DW Documentary (English): https://www.youtube.com/dwdocumentary
⮞ DW Documental (Spanish): https://www.youtube.com/dwdocumental
⮞ DW Documentary وثائقية دي دبليو (Arabic): https://www.youtube.com/dwdocarabia
⮞ DW Doku (German): https://www.youtube.com/dwdoku
⮞ DW Documentary हिन्दी (Hindi): https://www.youtube.com/dwdochindi
For more visit: http://www.dw.com/en/tv/docfilm/s-3610
Follow DW Documentary on Instagram: https://www.instagram.com/dwdocumentary/
Follow DW Documental on Facebook: https://www.facebook.com/dwdocumental
We kindly ask viewers to read and stick to the DW netiquette policy on our channel: https://p.dw.com/p/MF1G
- published: 16 Nov 2022
- views: 1406304
15:20
How Asian Countries Failed? | 1997 Asian Financial Crisis | Explained | Ayushi Chand
- Order: Reorder
- Duration: 15:20
- Uploaded Date: 17 Sep 2023
- views: 29725
In this video, we discuss an important case study in the global economic history, wherein everything that could possible go wrong went wrong.
The Asian Financi...
In this video, we discuss an important case study in the global economic history, wherein everything that could possible go wrong went wrong.
The Asian Financial Crisis was a watershed moment in the history of the world which led to the emergence of a new world order of regional economic cooperation in the form of the Chiang Mai Initiative and the G20.
Watch at 1.5x.
Learn about the crisis, the causes, the repercussions and the lessons learnt here.
01:20 Introduction
02:09 Causes for the Crisis
07:49 Consequences of the Crisis
09:30 Reforms Introduced
12:09 Lessons to be learnt
14:30 Conclusion
*****************
Pakistan on the verge of collapse?: https://www.youtube.com/watch?v=v0tldRvCJxo&t=910s
*****************
Subscribe to the channel to learn more about Government, Economics, Public Policy and Finance.
*****************
Ayushi Chand is an Indian Economic Service (IES) officer, and has worked with the Central Government of India (Ministry of Finance). She has over 8+ years of work experience in the fields of finance, economics and public policy.
*****************
Get in touch:
LinkedIn: www.linkedin.com/in/ayushichand
Twitter: https://twitter.com/ayushichand
Instagram: https://www.instagram.com/ayushichand
https://www.quora.com/profile/Ayushi-Chand
*****************
Attributions: https://commons.wikimedia.org/wiki/File:Asian_Financial_Crisis_EN_vector.svg#/media/File:Asian_Financial_Crisis_EN_vector.svg
https://wn.com/How_Asian_Countries_Failed_|_1997_Asian_Financial_Crisis_|_Explained_|_Ayushi_Chand
In this video, we discuss an important case study in the global economic history, wherein everything that could possible go wrong went wrong.
The Asian Financial Crisis was a watershed moment in the history of the world which led to the emergence of a new world order of regional economic cooperation in the form of the Chiang Mai Initiative and the G20.
Watch at 1.5x.
Learn about the crisis, the causes, the repercussions and the lessons learnt here.
01:20 Introduction
02:09 Causes for the Crisis
07:49 Consequences of the Crisis
09:30 Reforms Introduced
12:09 Lessons to be learnt
14:30 Conclusion
*****************
Pakistan on the verge of collapse?: https://www.youtube.com/watch?v=v0tldRvCJxo&t=910s
*****************
Subscribe to the channel to learn more about Government, Economics, Public Policy and Finance.
*****************
Ayushi Chand is an Indian Economic Service (IES) officer, and has worked with the Central Government of India (Ministry of Finance). She has over 8+ years of work experience in the fields of finance, economics and public policy.
*****************
Get in touch:
LinkedIn: www.linkedin.com/in/ayushichand
Twitter: https://twitter.com/ayushichand
Instagram: https://www.instagram.com/ayushichand
https://www.quora.com/profile/Ayushi-Chand
*****************
Attributions: https://commons.wikimedia.org/wiki/File:Asian_Financial_Crisis_EN_vector.svg#/media/File:Asian_Financial_Crisis_EN_vector.svg
- published: 17 Sep 2023
- views: 29725
9:14
1997 Asian Financial Crisis: The Story and Lessons Learned
- Order: Reorder
- Duration: 9:14
- Uploaded Date: 16 Nov 2020
- views: 35975
Thanks for watching "1997 Asian Financial Crisis | The Story and Lessons Learned" Today, we’re going to be talking about the Asian Financial Crisis. Now, you’v...
Thanks for watching "1997 Asian Financial Crisis | The Story and Lessons Learned" Today, we’re going to be talking about the Asian Financial Crisis. Now, you’ve probably heard about it in your classes in school, but are you really familiar with what went down during that time period? The Asian financial crisis, also known as the “Asian Contagion” refers to the sequence of currency devaluations back in 1997 that affected a great number of Asian markets. Affected nations included Thailand, South Korea, Malaysia, Singapore, Indonesia, and the Philippines. The crisis had severe macroeconomic-level effects- sharp dips in currency values, fluctuation of stock market, and change in asset prices. As a result of this financial crisis, many businesses failed and collapsed, and millions of citizens fell below the poverty line from 1997 to 1998. So, what’s the story behind the Asian Financial Crisis? What were the events that triggered the crisis? What brought about the dip in currency valuations? What were the repercussions of the crisis on citizens? And most importantly, what were the lessons learned from the Asian Financial Crisis? Well, that’s exactly what we’re going to be talking about in today’s video, so sit back and relax as we dive into the details of the 1997 Asian Financial Crisis.
01:20 - 02:15 Life Before The Crisis
02:16 - 04:06 What Triggered The Crisis?
04:07 - 05:19 What The Crisis Did to Nations’ Currencies
05:20 - 06:09 Who Saved The Day?
06:10 - 07:30 Lessons From The Crisis
For more videos about the world’s greatest schemes, ways to make money, and, basically, the best things you could ever learn about, be sure to subscribe to Business Explained! Thanks for watching: “H1997 Asian Financial Crisis | The Story and Lessons Learned"
Leave a comment about your thoughts on the video and let us know what else you’d like to see next!
If you liked this video, check out these other videos!
How Apple Stocks Compare to Competitors
https://www.youtube.com/watch?v=bTbT6S2bqO4&t=24s
Lessons learned from the 1997 Asian financial crisis
https://www.youtube.com/watch?v=FBnOZmg5meg
What Caused 1997 Asia's Financial Crisis?
https://www.youtube.com/watch?v=7FL0Lz_UX68
Translated titles:
Crisis financiera asiática de 1997: historia y lecciones aprendidas
1997 Asiatische Finanzkrise: Die Geschichte und die gewonnenen Erkenntnisse
Crise financière asiatique de 1997: histoire et leçons apprises
Crise financeira asiática de 1997: a história e as lições aprendidas
1997 एशियाई वित्तीय संकट: कहानी और सबक सी
1997 Asiatiese finansiële krisis: die verhaal en lesse geleer
1997 Kriza financiare aziatike: Historia dhe mësimet e nxjerra
1997 የእስያ የገንዘብ ቀውስ ታሪክ እና ትምህርቶች የተማሩ ናቸ
1997 الأزمة المالية الآسيوية: القصة والدروس المستفادة
1997 Ասիական ֆինանսական ճգնաժամ. Պատմությունն ու քաղած դ
https://wn.com/1997_Asian_Financial_Crisis_The_Story_And_Lessons_Learned
Thanks for watching "1997 Asian Financial Crisis | The Story and Lessons Learned" Today, we’re going to be talking about the Asian Financial Crisis. Now, you’ve probably heard about it in your classes in school, but are you really familiar with what went down during that time period? The Asian financial crisis, also known as the “Asian Contagion” refers to the sequence of currency devaluations back in 1997 that affected a great number of Asian markets. Affected nations included Thailand, South Korea, Malaysia, Singapore, Indonesia, and the Philippines. The crisis had severe macroeconomic-level effects- sharp dips in currency values, fluctuation of stock market, and change in asset prices. As a result of this financial crisis, many businesses failed and collapsed, and millions of citizens fell below the poverty line from 1997 to 1998. So, what’s the story behind the Asian Financial Crisis? What were the events that triggered the crisis? What brought about the dip in currency valuations? What were the repercussions of the crisis on citizens? And most importantly, what were the lessons learned from the Asian Financial Crisis? Well, that’s exactly what we’re going to be talking about in today’s video, so sit back and relax as we dive into the details of the 1997 Asian Financial Crisis.
01:20 - 02:15 Life Before The Crisis
02:16 - 04:06 What Triggered The Crisis?
04:07 - 05:19 What The Crisis Did to Nations’ Currencies
05:20 - 06:09 Who Saved The Day?
06:10 - 07:30 Lessons From The Crisis
For more videos about the world’s greatest schemes, ways to make money, and, basically, the best things you could ever learn about, be sure to subscribe to Business Explained! Thanks for watching: “H1997 Asian Financial Crisis | The Story and Lessons Learned"
Leave a comment about your thoughts on the video and let us know what else you’d like to see next!
If you liked this video, check out these other videos!
How Apple Stocks Compare to Competitors
https://www.youtube.com/watch?v=bTbT6S2bqO4&t=24s
Lessons learned from the 1997 Asian financial crisis
https://www.youtube.com/watch?v=FBnOZmg5meg
What Caused 1997 Asia's Financial Crisis?
https://www.youtube.com/watch?v=7FL0Lz_UX68
Translated titles:
Crisis financiera asiática de 1997: historia y lecciones aprendidas
1997 Asiatische Finanzkrise: Die Geschichte und die gewonnenen Erkenntnisse
Crise financière asiatique de 1997: histoire et leçons apprises
Crise financeira asiática de 1997: a história e as lições aprendidas
1997 एशियाई वित्तीय संकट: कहानी और सबक सी
1997 Asiatiese finansiële krisis: die verhaal en lesse geleer
1997 Kriza financiare aziatike: Historia dhe mësimet e nxjerra
1997 የእስያ የገንዘብ ቀውስ ታሪክ እና ትምህርቶች የተማሩ ናቸ
1997 الأزمة المالية الآسيوية: القصة والدروس المستفادة
1997 Ասիական ֆինանսական ճգնաժամ. Պատմությունն ու քաղած դ
- published: 16 Nov 2020
- views: 35975
7:39
Asian Financial Crisis of 1997
- Order: Reorder
- Duration: 7:39
- Uploaded Date: 28 Aug 2014
- views: 117321
- published: 28 Aug 2014
- views: 117321
5:47
Mahathir vs The IMF: The 1997 Asian Financial Crisis | Insight | CNA Insider
- Order: Reorder
- Duration: 5:47
- Uploaded Date: 25 Jul 2017
- views: 178421
20 years since the Asian Financial Crisis, a look back at how Malaysia's then-Prime Minister Mahathir Mohamad defied the International Monetary Fund, and his su...
20 years since the Asian Financial Crisis, a look back at how Malaysia's then-Prime Minister Mahathir Mohamad defied the International Monetary Fund, and his subsequent clash with his deputy Anwar Ibrahim. Has Malaysia come out of the crisis for better or for worse in the long run, as a result of his rejection of the IMF's measures?
The full Insight episode: https://cna.asia/2uVoe5t
https://wn.com/Mahathir_Vs_The_Imf_The_1997_Asian_Financial_Crisis_|_Insight_|_Cna_Insider
20 years since the Asian Financial Crisis, a look back at how Malaysia's then-Prime Minister Mahathir Mohamad defied the International Monetary Fund, and his subsequent clash with his deputy Anwar Ibrahim. Has Malaysia come out of the crisis for better or for worse in the long run, as a result of his rejection of the IMF's measures?
The full Insight episode: https://cna.asia/2uVoe5t
- published: 25 Jul 2017
- views: 178421
1:27
What Caused 1997 Asia's Financial Crisis?
- Order: Reorder
- Duration: 1:27
- Uploaded Date: 25 Nov 2015
- views: 77315
Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “Asian Crisis”
During 1997-98, many of the Eas...
Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “Asian Crisis”
During 1997-98, many of the East Asian tiger economies suffered a severe financial and economic crisis. This had big consequences for the global financial markets, which had become increasingly exposed to the promise that Asia had seemed to offer.
The crisis destroyed wealth on a massive scale and sent absolute poverty shooting up. In the banking system alone, corporate loans equivalent to around half of one year's GDP went bad - a destruction of savings on a scale more usually associated with a full-scale war. The precise cause of the crisis remains a matter of debate. Fingers have been pointed at the currency peg adopted by some countries, and a reduction of capital controls in the years before the crisis.
Some blamed economic contagion. The crisis brought an end to a then widespread belief that there was a distinct "Asian way" of capitalism that might prove just as successful as capitalism in America or Europe. Instead, critics turned their fire on Asian cronyism, ill-disciplined banking and lack of transparency. In the years following the crisis, most of the countries involved have introduced reforms designed to increase transparency and improve the health of the banking system, although some such as South Korea went much further than others like Indonesia.
By Barry Norman, Investors Trading Academy - ITA
https://wn.com/What_Caused_1997_Asia's_Financial_Crisis
Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “Asian Crisis”
During 1997-98, many of the East Asian tiger economies suffered a severe financial and economic crisis. This had big consequences for the global financial markets, which had become increasingly exposed to the promise that Asia had seemed to offer.
The crisis destroyed wealth on a massive scale and sent absolute poverty shooting up. In the banking system alone, corporate loans equivalent to around half of one year's GDP went bad - a destruction of savings on a scale more usually associated with a full-scale war. The precise cause of the crisis remains a matter of debate. Fingers have been pointed at the currency peg adopted by some countries, and a reduction of capital controls in the years before the crisis.
Some blamed economic contagion. The crisis brought an end to a then widespread belief that there was a distinct "Asian way" of capitalism that might prove just as successful as capitalism in America or Europe. Instead, critics turned their fire on Asian cronyism, ill-disciplined banking and lack of transparency. In the years following the crisis, most of the countries involved have introduced reforms designed to increase transparency and improve the health of the banking system, although some such as South Korea went much further than others like Indonesia.
By Barry Norman, Investors Trading Academy - ITA
- published: 25 Nov 2015
- views: 77315
42:27
एशिया का वित्तीय संकट और उसके घातक परिणाम [The Asian Financial Crisis] | DW Documentary हिन्दी
- Order: Reorder
- Duration: 42:27
- Uploaded Date: 08 Dec 2022
- views: 148603
जब एशियाई वित्तीय संकट आया, तो यह कुछ ऐसा संकट था जिसे दुनिया ने 1930 के दशक से नहीं देखा था. द्वितीय विश्व युद्ध के बाद पहली बार, वैश्विक अर्थव्यवस्था पूरी तरह...
जब एशियाई वित्तीय संकट आया, तो यह कुछ ऐसा संकट था जिसे दुनिया ने 1930 के दशक से नहीं देखा था. द्वितीय विश्व युद्ध के बाद पहली बार, वैश्विक अर्थव्यवस्था पूरी तरह से खत्म होने के वास्तविक खतरे का सामना कर रही थी. यह परेशान करने वाला संकट, अचानक आया और इसने पूरी तरह से सबको चौंका दिया.
1990 के दशक के उत्तरार्ध में, विश्व अर्थव्यवस्था स्थिर रूप से विकास के रास्ते पर अग्रसर थी. मुख्य रूप से इसका कारण थीं दक्षिण पूर्व एशिया की उभरती अर्थव्यवस्थाएं. दुनिया का यह क्षेत्र सबसे मजबूत आर्थिक वृद्धि वाला क्षेत्र था. फिर, बहुत ही कम समय में, लाखों लोगों की आजीविका अचानक चली गई। इन पहले से समृद्ध देशों में अब भूखमरी, बड़े पैमाने पर बेरोजगारी और विद्रोह वापस लौट आए. उस समय संकट प्रबंधकों के लिए खास तौर से परेशानी वाली बात यह थी कि उन्होंने संकट का अनुमान नहीं लगाया था, और इसके लिए वो तैयार नहीं थे. समस्या को सुलझाने के उनके जल्दबाजी के प्रयास लंबे समय तक सफल नहीं हुए, और वास्तव में, कम समय की अवधि में, इन उपायों ने स्थिति को और खराब कर दिया। आखिर यह कैसे हो सकता है?
#DWDocumentaryहिन्दी #DWहिन्दी #worldeconomy
----------------------------------------------
अगर आपको वीडियो पसंद आया और आगे भी ऐसी दिलचस्प वीडियो देखना चाहते हैं तो हमें सब्सक्राइब करना मत भूलिए.
विज्ञान, तकनीक, सेहत और पर्यावरण से जुड़े वीडियो देखने के लिए हमारे चैनल DW हिन्दी को फॉलो करे: https://www.youtube.com/dwhindi
और डॉयचे वेले की सोशल मीडिया नेटिकेट नीतियों को यहां पढ़ें: https://p.dw.com/p/MF1G
https://wn.com/एशिया_का_वित्तीय_संकट_और_उसके_घातक_परिणाम_The_Asian_Financial_Crisis_|_Dw_Documentary_हिन्दी
जब एशियाई वित्तीय संकट आया, तो यह कुछ ऐसा संकट था जिसे दुनिया ने 1930 के दशक से नहीं देखा था. द्वितीय विश्व युद्ध के बाद पहली बार, वैश्विक अर्थव्यवस्था पूरी तरह से खत्म होने के वास्तविक खतरे का सामना कर रही थी. यह परेशान करने वाला संकट, अचानक आया और इसने पूरी तरह से सबको चौंका दिया.
1990 के दशक के उत्तरार्ध में, विश्व अर्थव्यवस्था स्थिर रूप से विकास के रास्ते पर अग्रसर थी. मुख्य रूप से इसका कारण थीं दक्षिण पूर्व एशिया की उभरती अर्थव्यवस्थाएं. दुनिया का यह क्षेत्र सबसे मजबूत आर्थिक वृद्धि वाला क्षेत्र था. फिर, बहुत ही कम समय में, लाखों लोगों की आजीविका अचानक चली गई। इन पहले से समृद्ध देशों में अब भूखमरी, बड़े पैमाने पर बेरोजगारी और विद्रोह वापस लौट आए. उस समय संकट प्रबंधकों के लिए खास तौर से परेशानी वाली बात यह थी कि उन्होंने संकट का अनुमान नहीं लगाया था, और इसके लिए वो तैयार नहीं थे. समस्या को सुलझाने के उनके जल्दबाजी के प्रयास लंबे समय तक सफल नहीं हुए, और वास्तव में, कम समय की अवधि में, इन उपायों ने स्थिति को और खराब कर दिया। आखिर यह कैसे हो सकता है?
#DWDocumentaryहिन्दी #DWहिन्दी #worldeconomy
----------------------------------------------
अगर आपको वीडियो पसंद आया और आगे भी ऐसी दिलचस्प वीडियो देखना चाहते हैं तो हमें सब्सक्राइब करना मत भूलिए.
विज्ञान, तकनीक, सेहत और पर्यावरण से जुड़े वीडियो देखने के लिए हमारे चैनल DW हिन्दी को फॉलो करे: https://www.youtube.com/dwhindi
और डॉयचे वेले की सोशल मीडिया नेटिकेट नीतियों को यहां पढ़ें: https://p.dw.com/p/MF1G
- published: 08 Dec 2022
- views: 148603
4:47
Asian financial crisis of 1997: The Greatest Asian Crisis in History?
- Order: Reorder
- Duration: 4:47
- Uploaded Date: 08 Dec 2023
- views: 1281
In this video, you will learn about the Asian financial crisis, what caused it, its effects, and the lesson learned.
#asianfinancialcrisis #financialcrisis #wa...
In this video, you will learn about the Asian financial crisis, what caused it, its effects, and the lesson learned.
#asianfinancialcrisis #financialcrisis #wallstreetmojo #marketcrash #economicmeltdown
Chapters:
00:18 – Introduction
00:35 – The Asian financial crisis of 1997
01:37 – Causes and effects
02:51 – How did the IMF help solve the Asian financial crisis?
04:16 – Conclusion
The Asian financial crisis of 1997
The Asian financial crisis of 1997 was triggered by the currency devaluations in Thailand caused by unsustainable borrowing practices and the inability to maintain exchange rates after unpegging from the US Dollar.
This led to similar devaluations and stock market declines in other Asian countries, particularly Thailand, South Korea, Indonesia, Malaysia, the Philippines, and Singapore. In addition, this resulted in significant currency depreciations, with Indonesia experiencing the most significant loss.
(Explained in detail in the video)
Causes and effects
The Asian financial crisis of 1997 was caused by a combination of factors such as excessive borrowing and investment, weak economic regulation, and a rapid influx of foreign capital leading to unsustainable debt and overinvestment.
It severely affected countries, including significant job losses, a decline in living standards, and social unrest.
The crisis had a ripple effect on the global economy, triggering a recession in many countries and leading to a significant drop in the value of overseas stocks and a decline in capital inflows.
How did the IMF help solve the Asian financial crisis
During the Asian financial crisis, the IMF played a crucial role in helping to stabilize the economies of the affected countries.
The IMF provided emergency loans to countries struggling with the crisis, which helped restore confidence in their economies and stabilize their currencies.
This will be all for this video. Don’t forget to subscribe to the channel, give this video a like, and share it with others.
==========================================================================
Subscribe to Our Channel –
Youtube ►
https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/
Facebook ► https://www.facebook.com/wallstreetmojo
Instagram ► https://www.instagram.com/wallstreetmojoofficial/
Twitter ► https://twitter.com/wallstreetmojo
https://wn.com/Asian_Financial_Crisis_Of_1997_The_Greatest_Asian_Crisis_In_History
In this video, you will learn about the Asian financial crisis, what caused it, its effects, and the lesson learned.
#asianfinancialcrisis #financialcrisis #wallstreetmojo #marketcrash #economicmeltdown
Chapters:
00:18 – Introduction
00:35 – The Asian financial crisis of 1997
01:37 – Causes and effects
02:51 – How did the IMF help solve the Asian financial crisis?
04:16 – Conclusion
The Asian financial crisis of 1997
The Asian financial crisis of 1997 was triggered by the currency devaluations in Thailand caused by unsustainable borrowing practices and the inability to maintain exchange rates after unpegging from the US Dollar.
This led to similar devaluations and stock market declines in other Asian countries, particularly Thailand, South Korea, Indonesia, Malaysia, the Philippines, and Singapore. In addition, this resulted in significant currency depreciations, with Indonesia experiencing the most significant loss.
(Explained in detail in the video)
Causes and effects
The Asian financial crisis of 1997 was caused by a combination of factors such as excessive borrowing and investment, weak economic regulation, and a rapid influx of foreign capital leading to unsustainable debt and overinvestment.
It severely affected countries, including significant job losses, a decline in living standards, and social unrest.
The crisis had a ripple effect on the global economy, triggering a recession in many countries and leading to a significant drop in the value of overseas stocks and a decline in capital inflows.
How did the IMF help solve the Asian financial crisis
During the Asian financial crisis, the IMF played a crucial role in helping to stabilize the economies of the affected countries.
The IMF provided emergency loans to countries struggling with the crisis, which helped restore confidence in their economies and stabilize their currencies.
This will be all for this video. Don’t forget to subscribe to the channel, give this video a like, and share it with others.
==========================================================================
Subscribe to Our Channel –
Youtube ►
https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/
Facebook ► https://www.facebook.com/wallstreetmojo
Instagram ► https://www.instagram.com/wallstreetmojoofficial/
Twitter ► https://twitter.com/wallstreetmojo
- published: 08 Dec 2023
- views: 1281
1:27
Looking back at Asian financial crisis 20 years after
- Order: Reorder
- Duration: 1:27
- Uploaded Date: 03 Jul 2017
- views: 10580
Many considered July 2, 1997 as the day the Asian financial crisis began, when the Thai Baht dropped by as much as 20 percent.
Subscribe to the ABS-CBN News ch...
Many considered July 2, 1997 as the day the Asian financial crisis began, when the Thai Baht dropped by as much as 20 percent.
Subscribe to the ABS-CBN News channel! - http://bit.ly/TheABSCBNNews
Visit our website at http://news.abs-cbn.com
Facebook: https://www.facebook.com/abscbnNEWS
Twitter: https://twitter.com/abscbnnews
https://wn.com/Looking_Back_At_Asian_Financial_Crisis_20_Years_After
Many considered July 2, 1997 as the day the Asian financial crisis began, when the Thai Baht dropped by as much as 20 percent.
Subscribe to the ABS-CBN News channel! - http://bit.ly/TheABSCBNNews
Visit our website at http://news.abs-cbn.com
Facebook: https://www.facebook.com/abscbnNEWS
Twitter: https://twitter.com/abscbnnews
- published: 03 Jul 2017
- views: 10580
12:52
The 1997 Crisis: The Greatest Asian Crisis in History? - VisualPolitik EN
Check out our brand new channel, Visual Academy: https://www.youtube.com/channel/UC00VXLPf...
published: 27 Dec 2020
The 1997 Crisis: The Greatest Asian Crisis in History? - VisualPolitik EN
The 1997 Crisis: The Greatest Asian Crisis in History? - VisualPolitik EN
- Report rights infringement
- published: 27 Dec 2020
- views: 240854
Check out our brand new channel, Visual Academy: https://www.youtube.com/channel/UC00VXLPfLevjlZUhb3XkDhQ
If you want to know more about Value School's work, check out their website here: https://value.school
In the early 1990s, the countries of Southeast Asia along with South Korea seemed to be taking on the world. Banks, investment funds, pension funds, insurance companies... Everyone wanted a piece of the action and the money was pouring in. Thailand, South Korea, Malaysia, Indonesia and the Philippines were the trending countries.
However, on 2 July 1997, everything fell apart.
On that day, one of the greatest financial cataclysms in human history suddenly began to unfold. In just a few months, the entire world would see these once booming and prosperous economies on the verge of collapse. The stock markets collapsed, the currencies depreciated to unimaginable levels and the recession hit the economies of these countries. Suddenly prosperity gave way to unemployment and widespread business failure.
In this new video made in collaboration with Value School, we tell you what happened and why one of the greatest financial crises of all time occurred: the great Asian financial crisis of 1997.
Support us on Patreon!
https://www.patreon.com/VisualPolitik
And don't forget to visit our friend’s podcast, Reconsider Media:
https://www.reconsidermedia.com/
42:27
The first modern financial crisis in the globalized world | DW Documentary
When the Asian financial crisis hit, it was something the world hadn‘t seen since the 1930...
published: 16 Nov 2022
The first modern financial crisis in the globalized world | DW Documentary
The first modern financial crisis in the globalized world | DW Documentary
- Report rights infringement
- published: 16 Nov 2022
- views: 1406304
When the Asian financial crisis hit, it was something the world hadn‘t seen since the 1930s. For the first time since World War II, the global economy faced the very real threat of a complete collapse. Disturbingly, the sudden crisis came as a complete surprise.
In the late 1990s, the world economy seemed to be on a steady path of growth. This trajectory was driven primarily by the emerging economies of Southeast Asia, the global region with the strongest economic growth. Then, within a very short time, millions of people suddenly lost their livelihoods. Hunger, mass unemployment and uprisings returned to these previously prosperous countries. What was particularly disturbing to crisis managers at the time was that they had not anticipated the crisis, and were not prepared for it. Their hasty attempts to correct the problem did not bear fruit for a long time - in fact, in the short-term, these measures worsened the situation. How could this happen?
Ten years later, in 2008 and 2009, the global economy was once again on the brink of a complete collapse. What became known as the Global Financial Crisis demonstrated how much our world depends on the financial market. In this documentary, world-renowned experts question whether the toxic threat of collapse might perhaps be an inherent part of our economic system. To date, there is no satisfactory answer to this question. One conclusion that can be drawn: we are still living on an economic powder keg, today.
#documentary #dwdocumentary #globalization #economy #economiccrisis
______
DW Documentary gives you knowledge beyond the headlines. Watch top documentaries from German broadcasters and international production companies. Meet intriguing people, travel to distant lands, get a look behind the complexities of daily life and build a deeper understanding of current affairs and global events. Subscribe and explore the world around you with DW Documentary.
Subscribe to:
⮞ DW Documentary (English): https://www.youtube.com/dwdocumentary
⮞ DW Documental (Spanish): https://www.youtube.com/dwdocumental
⮞ DW Documentary وثائقية دي دبليو (Arabic): https://www.youtube.com/dwdocarabia
⮞ DW Doku (German): https://www.youtube.com/dwdoku
⮞ DW Documentary हिन्दी (Hindi): https://www.youtube.com/dwdochindi
For more visit: http://www.dw.com/en/tv/docfilm/s-3610
Follow DW Documentary on Instagram: https://www.instagram.com/dwdocumentary/
Follow DW Documental on Facebook: https://www.facebook.com/dwdocumental
We kindly ask viewers to read and stick to the DW netiquette policy on our channel: https://p.dw.com/p/MF1G
15:20
How Asian Countries Failed? | 1997 Asian Financial Crisis | Explained | Ayushi Chand
In this video, we discuss an important case study in the global economic history, wherein ...
published: 17 Sep 2023
How Asian Countries Failed? | 1997 Asian Financial Crisis | Explained | Ayushi Chand
How Asian Countries Failed? | 1997 Asian Financial Crisis | Explained | Ayushi Chand
- Report rights infringement
- published: 17 Sep 2023
- views: 29725
In this video, we discuss an important case study in the global economic history, wherein everything that could possible go wrong went wrong.
The Asian Financial Crisis was a watershed moment in the history of the world which led to the emergence of a new world order of regional economic cooperation in the form of the Chiang Mai Initiative and the G20.
Watch at 1.5x.
Learn about the crisis, the causes, the repercussions and the lessons learnt here.
01:20 Introduction
02:09 Causes for the Crisis
07:49 Consequences of the Crisis
09:30 Reforms Introduced
12:09 Lessons to be learnt
14:30 Conclusion
*****************
Pakistan on the verge of collapse?: https://www.youtube.com/watch?v=v0tldRvCJxo&t=910s
*****************
Subscribe to the channel to learn more about Government, Economics, Public Policy and Finance.
*****************
Ayushi Chand is an Indian Economic Service (IES) officer, and has worked with the Central Government of India (Ministry of Finance). She has over 8+ years of work experience in the fields of finance, economics and public policy.
*****************
Get in touch:
LinkedIn: www.linkedin.com/in/ayushichand
Twitter: https://twitter.com/ayushichand
Instagram: https://www.instagram.com/ayushichand
https://www.quora.com/profile/Ayushi-Chand
*****************
Attributions: https://commons.wikimedia.org/wiki/File:Asian_Financial_Crisis_EN_vector.svg#/media/File:Asian_Financial_Crisis_EN_vector.svg
9:14
1997 Asian Financial Crisis: The Story and Lessons Learned
Thanks for watching "1997 Asian Financial Crisis | The Story and Lessons Learned" Today, ...
published: 16 Nov 2020
1997 Asian Financial Crisis: The Story and Lessons Learned
1997 Asian Financial Crisis: The Story and Lessons Learned
- Report rights infringement
- published: 16 Nov 2020
- views: 35975
Thanks for watching "1997 Asian Financial Crisis | The Story and Lessons Learned" Today, we’re going to be talking about the Asian Financial Crisis. Now, you’ve probably heard about it in your classes in school, but are you really familiar with what went down during that time period? The Asian financial crisis, also known as the “Asian Contagion” refers to the sequence of currency devaluations back in 1997 that affected a great number of Asian markets. Affected nations included Thailand, South Korea, Malaysia, Singapore, Indonesia, and the Philippines. The crisis had severe macroeconomic-level effects- sharp dips in currency values, fluctuation of stock market, and change in asset prices. As a result of this financial crisis, many businesses failed and collapsed, and millions of citizens fell below the poverty line from 1997 to 1998. So, what’s the story behind the Asian Financial Crisis? What were the events that triggered the crisis? What brought about the dip in currency valuations? What were the repercussions of the crisis on citizens? And most importantly, what were the lessons learned from the Asian Financial Crisis? Well, that’s exactly what we’re going to be talking about in today’s video, so sit back and relax as we dive into the details of the 1997 Asian Financial Crisis.
01:20 - 02:15 Life Before The Crisis
02:16 - 04:06 What Triggered The Crisis?
04:07 - 05:19 What The Crisis Did to Nations’ Currencies
05:20 - 06:09 Who Saved The Day?
06:10 - 07:30 Lessons From The Crisis
For more videos about the world’s greatest schemes, ways to make money, and, basically, the best things you could ever learn about, be sure to subscribe to Business Explained! Thanks for watching: “H1997 Asian Financial Crisis | The Story and Lessons Learned"
Leave a comment about your thoughts on the video and let us know what else you’d like to see next!
If you liked this video, check out these other videos!
How Apple Stocks Compare to Competitors
https://www.youtube.com/watch?v=bTbT6S2bqO4&t=24s
Lessons learned from the 1997 Asian financial crisis
https://www.youtube.com/watch?v=FBnOZmg5meg
What Caused 1997 Asia's Financial Crisis?
https://www.youtube.com/watch?v=7FL0Lz_UX68
Translated titles:
Crisis financiera asiática de 1997: historia y lecciones aprendidas
1997 Asiatische Finanzkrise: Die Geschichte und die gewonnenen Erkenntnisse
Crise financière asiatique de 1997: histoire et leçons apprises
Crise financeira asiática de 1997: a história e as lições aprendidas
1997 एशियाई वित्तीय संकट: कहानी और सबक सी
1997 Asiatiese finansiële krisis: die verhaal en lesse geleer
1997 Kriza financiare aziatike: Historia dhe mësimet e nxjerra
1997 የእስያ የገንዘብ ቀውስ ታሪክ እና ትምህርቶች የተማሩ ናቸ
1997 الأزمة المالية الآسيوية: القصة والدروس المستفادة
1997 Ասիական ֆինանսական ճգնաժամ. Պատմությունն ու քաղած դ
7:39
Asian Financial Crisis of 1997
published: 28 Aug 2014
Asian Financial Crisis of 1997
Asian Financial Crisis of 1997
- Report rights infringement
- published: 28 Aug 2014
- views: 117321
5:47
Mahathir vs The IMF: The 1997 Asian Financial Crisis | Insight | CNA Insider
20 years since the Asian Financial Crisis, a look back at how Malaysia's then-Prime Minist...
published: 25 Jul 2017
Mahathir vs The IMF: The 1997 Asian Financial Crisis | Insight | CNA Insider
Mahathir vs The IMF: The 1997 Asian Financial Crisis | Insight | CNA Insider
- Report rights infringement
- published: 25 Jul 2017
- views: 178421
20 years since the Asian Financial Crisis, a look back at how Malaysia's then-Prime Minister Mahathir Mohamad defied the International Monetary Fund, and his subsequent clash with his deputy Anwar Ibrahim. Has Malaysia come out of the crisis for better or for worse in the long run, as a result of his rejection of the IMF's measures?
The full Insight episode: https://cna.asia/2uVoe5t
1:27
What Caused 1997 Asia's Financial Crisis?
Welcome to the Investors Trading Academy talking glossary of financial terms and events.
...
published: 25 Nov 2015
What Caused 1997 Asia's Financial Crisis?
What Caused 1997 Asia's Financial Crisis?
- Report rights infringement
- published: 25 Nov 2015
- views: 77315
Welcome to the Investors Trading Academy talking glossary of financial terms and events.
Our word of the day is “Asian Crisis”
During 1997-98, many of the East Asian tiger economies suffered a severe financial and economic crisis. This had big consequences for the global financial markets, which had become increasingly exposed to the promise that Asia had seemed to offer.
The crisis destroyed wealth on a massive scale and sent absolute poverty shooting up. In the banking system alone, corporate loans equivalent to around half of one year's GDP went bad - a destruction of savings on a scale more usually associated with a full-scale war. The precise cause of the crisis remains a matter of debate. Fingers have been pointed at the currency peg adopted by some countries, and a reduction of capital controls in the years before the crisis.
Some blamed economic contagion. The crisis brought an end to a then widespread belief that there was a distinct "Asian way" of capitalism that might prove just as successful as capitalism in America or Europe. Instead, critics turned their fire on Asian cronyism, ill-disciplined banking and lack of transparency. In the years following the crisis, most of the countries involved have introduced reforms designed to increase transparency and improve the health of the banking system, although some such as South Korea went much further than others like Indonesia.
By Barry Norman, Investors Trading Academy - ITA
42:27
एशिया का वित्तीय संकट और उसके घातक परिणाम [The Asian Financial Crisis] | DW Documentary हिन्दी
जब एशियाई वित्तीय संकट आया, तो यह कुछ ऐसा संकट था जिसे दुनिया ने 1930 के दशक से नहीं देखा ...
published: 08 Dec 2022
एशिया का वित्तीय संकट और उसके घातक परिणाम [The Asian Financial Crisis] | DW Documentary हिन्दी
एशिया का वित्तीय संकट और उसके घातक परिणाम [The Asian Financial Crisis] | DW Documentary हिन्दी
- Report rights infringement
- published: 08 Dec 2022
- views: 148603
जब एशियाई वित्तीय संकट आया, तो यह कुछ ऐसा संकट था जिसे दुनिया ने 1930 के दशक से नहीं देखा था. द्वितीय विश्व युद्ध के बाद पहली बार, वैश्विक अर्थव्यवस्था पूरी तरह से खत्म होने के वास्तविक खतरे का सामना कर रही थी. यह परेशान करने वाला संकट, अचानक आया और इसने पूरी तरह से सबको चौंका दिया.
1990 के दशक के उत्तरार्ध में, विश्व अर्थव्यवस्था स्थिर रूप से विकास के रास्ते पर अग्रसर थी. मुख्य रूप से इसका कारण थीं दक्षिण पूर्व एशिया की उभरती अर्थव्यवस्थाएं. दुनिया का यह क्षेत्र सबसे मजबूत आर्थिक वृद्धि वाला क्षेत्र था. फिर, बहुत ही कम समय में, लाखों लोगों की आजीविका अचानक चली गई। इन पहले से समृद्ध देशों में अब भूखमरी, बड़े पैमाने पर बेरोजगारी और विद्रोह वापस लौट आए. उस समय संकट प्रबंधकों के लिए खास तौर से परेशानी वाली बात यह थी कि उन्होंने संकट का अनुमान नहीं लगाया था, और इसके लिए वो तैयार नहीं थे. समस्या को सुलझाने के उनके जल्दबाजी के प्रयास लंबे समय तक सफल नहीं हुए, और वास्तव में, कम समय की अवधि में, इन उपायों ने स्थिति को और खराब कर दिया। आखिर यह कैसे हो सकता है?
#DWDocumentaryहिन्दी #DWहिन्दी #worldeconomy
----------------------------------------------
अगर आपको वीडियो पसंद आया और आगे भी ऐसी दिलचस्प वीडियो देखना चाहते हैं तो हमें सब्सक्राइब करना मत भूलिए.
विज्ञान, तकनीक, सेहत और पर्यावरण से जुड़े वीडियो देखने के लिए हमारे चैनल DW हिन्दी को फॉलो करे: https://www.youtube.com/dwhindi
और डॉयचे वेले की सोशल मीडिया नेटिकेट नीतियों को यहां पढ़ें: https://p.dw.com/p/MF1G
4:47
Asian financial crisis of 1997: The Greatest Asian Crisis in History?
In this video, you will learn about the Asian financial crisis, what caused it, its effect...
published: 08 Dec 2023
Asian financial crisis of 1997: The Greatest Asian Crisis in History?
Asian financial crisis of 1997: The Greatest Asian Crisis in History?
- Report rights infringement
- published: 08 Dec 2023
- views: 1281
In this video, you will learn about the Asian financial crisis, what caused it, its effects, and the lesson learned.
#asianfinancialcrisis #financialcrisis #wallstreetmojo #marketcrash #economicmeltdown
Chapters:
00:18 – Introduction
00:35 – The Asian financial crisis of 1997
01:37 – Causes and effects
02:51 – How did the IMF help solve the Asian financial crisis?
04:16 – Conclusion
The Asian financial crisis of 1997
The Asian financial crisis of 1997 was triggered by the currency devaluations in Thailand caused by unsustainable borrowing practices and the inability to maintain exchange rates after unpegging from the US Dollar.
This led to similar devaluations and stock market declines in other Asian countries, particularly Thailand, South Korea, Indonesia, Malaysia, the Philippines, and Singapore. In addition, this resulted in significant currency depreciations, with Indonesia experiencing the most significant loss.
(Explained in detail in the video)
Causes and effects
The Asian financial crisis of 1997 was caused by a combination of factors such as excessive borrowing and investment, weak economic regulation, and a rapid influx of foreign capital leading to unsustainable debt and overinvestment.
It severely affected countries, including significant job losses, a decline in living standards, and social unrest.
The crisis had a ripple effect on the global economy, triggering a recession in many countries and leading to a significant drop in the value of overseas stocks and a decline in capital inflows.
How did the IMF help solve the Asian financial crisis
During the Asian financial crisis, the IMF played a crucial role in helping to stabilize the economies of the affected countries.
The IMF provided emergency loans to countries struggling with the crisis, which helped restore confidence in their economies and stabilize their currencies.
This will be all for this video. Don’t forget to subscribe to the channel, give this video a like, and share it with others.
==========================================================================
Subscribe to Our Channel –
Youtube ►
https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/
Facebook ► https://www.facebook.com/wallstreetmojo
Instagram ► https://www.instagram.com/wallstreetmojoofficial/
Twitter ► https://twitter.com/wallstreetmojo
1:27
Looking back at Asian financial crisis 20 years after
Many considered July 2, 1997 as the day the Asian financial crisis began, when the Thai Ba...
published: 03 Jul 2017
Looking back at Asian financial crisis 20 years after
Looking back at Asian financial crisis 20 years after
- Report rights infringement
- published: 03 Jul 2017
- views: 10580
Many considered July 2, 1997 as the day the Asian financial crisis began, when the Thai Baht dropped by as much as 20 percent.
Subscribe to the ABS-CBN News channel! - http://bit.ly/TheABSCBNNews
Visit our website at http://news.abs-cbn.com
Facebook: https://www.facebook.com/abscbnNEWS
Twitter: https://twitter.com/abscbnnews
1997 Asian financial crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.
The crisis started in Thailand (well known in Thailand as the Tom Yum Goong crisis; Thai: วิกฤตต้มยำกุ้ง) with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. As the crisis spread, most of Southeast Asia and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt.
Indonesia, South Korea and Thailand were the countries most affected by the crisis. Hong Kong, Laos, Malaysia and the Philippines were also hurt by the slump. Brunei, China, Singapore, Taiwan and Vietnam were less affected, although all suffered from a loss of demand and confidence throughout the region.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/1997_Asian_financial_crisis
The 1997 Crisis: The Greatest Asian Crisis in Hist...
The first modern financial crisis in the globalize...
How Asian Countries Failed? | 1997 Asian Financial...
1997 Asian Financial Crisis: The Story and Lessons...
Asian Financial Crisis of 1997...
Mahathir vs The IMF: The 1997 Asian Financial Cris...
What Caused 1997 Asia's Financial Crisis?...
एशिया का वित्तीय संकट और उसके घातक परिणाम [The Asi...
Asian financial crisis of 1997: The Greatest Asian...
Looking back at Asian financial crisis 20 years af...
Latest News for: asian financial crisis
Edit
‘The hardest part…’: Kim Soo Hyun reveals toughest scenes in Knock Off with Jo Bo Ah; shares BTS of script reading session
Edit
Seizing opportunities in the banking sector
This is not the first merger between two major financial institutions in the Philippines ... After the crippling Asian financial crisis, however, the BSP decided it would be better to have stronger, bigger, and more stable banks.
Edit
In defense of Chinese deflation
And it don’t take money, don’t take fame ... – Huey Lewis and the News ... Deflationary moments in recent memory have all been demand shock events – post-bubble Japan, the 1997-98 Asian financial crisis, the 2008 global financial crisis, etc ... ....
Edit
Lagging Japan arrivals point to slow recovery for Hawaii tourism
“If you look at past episodes of severe disruption in Japanese visitor travel — whether it was the first Gulf War or SARS or the Great Recession or the Asian financial crisis, take your ...
Edit
Kim Soo Hyun, Jo Bo Ah turn lovers-to-rivals in high-octane crime drama Knock Off: Watch teaser
The black comedy Knock Off will present Kim Soo Hyun and Jo Bo Ah in exciting roles. Read on to know details. By ... Watch teaser ... He was bound to choose the path after losing his job due to the 1997 Asian financial crisis (known as IMF in South Korea) ... .
Edit
South Korea in political limbo
It survived a sharp economic downturn in 1998, considered the most critical national crisis since the Korean War. The 1997 Asian financial crunch drove several chaebols or Korean industrial fiefdoms into bankruptcy, but the economy rebounded.
Edit
Lifeblood of Korean economy
Strategic support needed to boost chipmakers, prevent brain drain ... The Korean won has depreciated to levels not seen since the 1997 Asian financial crisis, while the domestic stock market has remained sluggish despite positive global trends ... .
Edit
Essay: Beyond cultural awareness
Victoria Winata. Trigger warning ... The answer I give is ... My positionality ... Eventually becoming sick of the regime’s blatant corruption, Indonesians ran out of patience in 1997, after the Asian Financial Crisis plunged Indonesia into dire poverty ... .
- 1
- 2
- Next page »