South East Asian Financial Crisis
... The origin of South East Asian financial crisis was in Thailand, with the collapse of Thai Baht mainly due to real e problem. Evenbefore the collapse of its currency it had become bankrupt as it had acquired lot of foreign debt. Apart from Thailand, South Korea and Indonesia were most affected, though practically almost all countries in the region had suffered its impact. Foreign Debt to Gross Domestic Product (GDP) ratio rose by almost 60%.
Chapter 1: Formation of Association of South East Asian Nations (ASEAN)
ASEAN consisted of Indonesia, Malaysia, Singapore, Philippines, Thailand, Brunei, Vietnam, Myanmar, Laos and Cambodia. It was formed to ensure sovereignty. It was nothing like European Uni...