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For it implied that the "economic fundamentals" in East Asia were fatally flawed, yet only a few months or even weeks before the crisis erupted, the countries had been praised as models of sound fundamentals to be followed by others. And in 1993 the World Bank had coined the term the East Asian Miracle to describe the now vilified economies.
In an attempt to blame the crisis solely on the affected countries, intellectual "flip-flops" were made. Features that had been toasted as strengths were overnight concerted into evils. For example, the countries had been praised (indeed, over-praised) for having strong linkages between the public and private sectors...
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Common topics in this essay:
- Asian Crisis On 1998
- Asian Crisis
- Asian Financial Crisis
- Critically examine why financial liberalisation brought financial crisis in most of the Asian countries but did not bring a crisis in either China or India.
- East Asian Economic Crisis
- east asian crisis
- Rapid Economic Growth In East Asian Countries
- south-east asian currency crisis
- Crisis And Capitalism
- The Cause of The Asian Financial Crisis
- Asian Financial Crisis
- Asian Crisis
- Asian Crisis
- East Asian Crisis In The Econo
- Middle East Crisis
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