The world financial crisis of 1997-98

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Examining the fallout from the global financial crisis
By Daniel Vila, in People’s Weekly World, 6 December 1997. The global stock market crash of October 27, precipitated by the Asian markets collapse, will long have effect the world over. Soon after the crash, financial troubles struck Thailand, then quickly spread to the Philippines, Indonesia, Malaysia, Hong Kong and Korea. Japan is the big question.
Financial crisis: a symptom of the global crisis of capitalism
By Victor Perlo, in People’s Weekly World, 20 December 1997. Asian over production crisis spreading to Africa, Latin America, Europe and even the United States.
IMF warns money crisis will spread: Forecast shows global economic slowdown in 1998
From the Toronto Star, 21 December 1997.
Gloomy forecasts for SE Asia—and West
BBC News, 21 December 1997. Asian markets are likely to suffer badly from the crisis.
A new stage in the capitalist crisis
By Alan Woods, 6 January 1998. Excerpts from an article in which Woods notes the tendency in the West to downplay the significance of the Asian financial crisis for Europe and the U.S. This speech therapy recalls the Crash of ’29.
Our Economic System: Badly Designed?
By Roberto Verzola, 9 January 1998. Systems theoretical view of the global economy and the Asian economic crisis.
All is not well in the world economy
By Kim Scipes, 12 January 1998.
Crisis Thwarts Pentagon Efforts to Beef Up Asia Military
By Paul Richter, in the Los Angeles Times 15 January 1998. Ailing countries rethink investment in U.S. weapons, some made in Southland, for their own defense.