The Asian financial crisis of 1997-98 shook the foundations of the global economy. What began as a localised currency … fundamental ways did the Asian crisis serve as a catalyst to the current thinking about the 'new international financial … crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies, long considered 'miracles …

answer this by examining both the trade and financial channels of crisis transmission. The impact on developing Asia will … fall primarily on trade but there are also significant effects on the region's financial systems, especially its banking …