The 1997 and 1998 Asian Economic Crisis Essay -- Business Economics Ec

The 1997 and 1998 Asian Economic Crisis The purpose of this paper is to explore the causes of the 1997 and 1998 Asian economic crisis; and to research the effects of the crisis in each of the following categories: 1. The effects of the crisis in the countries involved in the economic crisis of 1997-98. 2. The effects on the governments affected by the crash, and 3. The effects that the Asian crisis has had on the differing world markets as well as the effects that it will continue to have (if any) on the world markets in the near future. We will also present our analysis of the causes and our predictions as to what the future will be for the countries involved. The paper will first look at the causes behind the crash. We can see that the main factors include current-account imbalances, financial over-lending, banking problems, extremely open economies, and a list of other factors. After we look at the causes behind the crash, we will give an analysis of how to avoid these problems in the future and what the repercussions will be in the Asian and Global markets. And at the end of the paper will be our conclusions (including how this has helped to better prepare us in the area of International Financial Management). The countries affected by the 1997 Asian crisis include the following: 1. Korea 2. Indonesia 3. Malaysia 4. Philippines 5. Thailand 6. China 7. Taiwan 8. Hong Kong (city-state) 9. Singapore (city -state) Introduction The Asian economic crash of 1997 surprised more than a few people. Ever since the period after World War II, the Asian economies had been following an economic model developed by the Japanese. This model favored export markets, domestic investment, and lower savings vs. hi... ...alaysia 2.10 -3.74 1.39 -0.11 -1.59 -3.75 0.58 Philippines -5.73 -3.00 -4.27 -8.53 -8.95 -8.80 -9.44 -12.30 Singapore 6.76 10.62 9.29 8.12 14.87 15.38 13.26 12.55 Thailand -7.75 -6.88 -4.70 -4.56 -5.18 -7.09 -6.65 0.14 China 2.75 2.86 1.03 -1.92 1.39 1.68 2.10 4.41 Taiwan 6.82 6.94 4.03 3.16 2.70 2.10 4.05 2.72 TABLE 4.0 GDP Growth. GDP Growth 1991 1992 1993 1994 1995 1996 1997 Korea 9.13 5.06 5.75 8.58 8.94 7.10 5.47 Indonesia 6.95 6.46 6.50 15.93 8.22 7.98 4.65 Malaysia 8.48 7.80 8.35 9.24 9.46 8.58 7.81 Philippines -0.58 0.34 2.12 4.38 4.77 5.76 9.66 Singapore 7.27 6.29 10.44 10.05 8.75 7.32 7.55 Thailand 8.18 8.08 8.38 8.94 8.84 5.52 -.043 Hong Kong 4.97 6.21 6.15 5.51 3.85 5.03 5.29 China 9.19 14.24 12.09 12.66 10.55 9.54 8.80 Taiwan 7.55 6.76 6.32 6.54 6.03 5.67 6.81 All Graphs Compliments of International Financial Statistics of the IMF

Interesting Recycling Facts

A running faucet wastes 2.5 gallons of water each minute. A dishwasher uses 11 gallons of water per use. 75 percent of all water used in the household is used in the bathroom. A toilet made in 1992 or earlier uses up to 60 percent more water per flush than newer high efficiency toilets. Turning of the tap while brushing your teeth in the morning and before bedtimes can save up to 8 gallons per day. This is a savings of 240 gallons per month. Running your faucet for 5 minutes uses up enough energy to run a 60 watt light bulb for 14 hours. A full bath tub uses 70 gallons of water. A 5 minute shower only uses 10-25 gallons. Interesting Recycling Facts / Paper Recycling 1 ton of paper saves 17 mature trees, 7,000 gallons of water, 3 cubic yards of landfill space, 2 barrels of oil, and 4000 kilowatt hours of electricity. This is enough energy to power the average American home for 5 months. The process of recycling paper instead of making it from new materials generates 74 percent less air pollution and uses 50 percent less water. Manufacturing recycled paper uses 60 percent of the energy needed to make paper from new materials. Over 73 percent of all newspapers are recovered for recycling. About 33 percent of this is used to make newsprint the rest is used to make paperboard, tissue, or insulation. A little more than 48 percent of all office paper is recycled. This is used to make writing papers, paperboard, tissue, and insulation. Interesting Recycling Facts / Metal Recycling steel and tin cans saves 74 percent of the energy used to make them. Americans throw away enough aluminum every month to rebuild our entire commercial air fleet. Americans throw out enough iron and steel to continuously supply all the auto makers in the entire nation. A steel mill using recycled scrap reduces water pollution, air pollution, and mining waste by about 70 percent. When you throw away an aluminum can you waste as much energy as if you’d filled the can half full of gasoline and poured it into the ground. Americans use 100 million tin and steel cans each day. Recycling one aluminum can saves enough energy to run a 100 watt light bulb for 20 hours, a computer for 3 hours, and a TV for 2 hours. Interesting Recycling Facts / Plastic Enough plastic is produced in the United States each year to shrink wrap Texas. In 1998 Americans used 2 billion pounds of HDPE to make plastic bottles for household products. That’s the equivalent weight of 90,000 Honda civics. Approximately 88 percent of the energy is saved when plastic is made from plastic rather than from the raw materials of gas and oil. Enough plastic bottles are thrown away in the United States each year to circle the Earth four times.

Basic Solution - Acid and Base Chemistry Definitions

A basic solution is an aqueous solution containing more OH-ions than Hions. In other words, it is an aqueous solution with a pH greater than 7. Basic solutions contain ions, conduct electricity, turn red litmus paper blue, and feel slippery to the touch. Examples of common basic solutions include soap or detergent dissolved in water or solutions of sodium hydroxide, potassium hydroxide, or sodium carbonate. Sources Whitten, Kenneth W.; Peck, Larry; Davis, Raymond E.; Lockwood, Lisa; Stanley, George G. (2009). Chemistry (9th ed.). ISBN 0-495-39163-8.Zumdahl, Steven; DeCoste, Donald (2013). Chemical Principles (7th ed.). Mary Finch.