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Business
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| Number of pages / Number of words: |
3 / 593 |
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Examples of countries that underwent this case in 1997 are Thailand, Korea and Indonesia. When things began to unwind in those countries, mutual funds, banks and others who were holding assets tried to liquidate their holdings all at the same time. The outcome was a dramatic plunge in the value of currencies of those three countries, which then pushed up import prices and hurt consumption expenditure...
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The outcome was a dramatic plunge in the value of currencies of those three countries, which then pushed up import prices and hurt consumption expenditure. Stock markets crashed, business investment dried up, aggregate spending fell and eventually severe recessions occurred (Case & Fair 2004, p.723)...
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General points of the essay
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