Buy custom south-east asian currency crisis
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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1165 |
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To tackle this, the Government imposed higher domestic Interest rates, which led to a slowdown in manufacturing and industrial activity. This brought about huge unemployment and an undesirable social impact – on food, healthcare and education. To make matters worse, the financial crisis coincided with the worst drought conditions in the ASEAN region...
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Since ASEAN is the fourth largest trading block in the world, the spillover effect was on world trade (mainly ASEAN’s trading partners).
Proposed Solutions
1. Stabilizing the Exchange Rate and Debt Management
The idea here is to stabilize the exchange rate. The firms should not be allowed to take any further debt which would imply Debt Standstill...
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