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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 817 |
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The problem is the process of reconstructing their financial system. Many countries in Asia had a hard time while adhering to this IMF policy. With a large number of banks?? shutdown, Asian countries could not get financial support to expand their exports even when their dollar was depreciated. The depreciation of the currency meant that export should have boomed...
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The depreciation of the currency meant that export should have boomed. The Author mentioned the South Korea??s financial system to criticize the IMF??s lack of understanding of financial markets. Unlike other countries in the Asia, South Korea ignored outside advice and recapitalized into two largest banks...
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