The 1997-98 financial crisis in
Southeast Asia as a whole

Hartford Web Publishing is not the author of the documents in World History Archives and does not presume to validate their accuracy or authenticity nor to release their copyright.

What's happening to the tiger economies of Southeast Asia?
By Deirdre Griswold, in Workers World, 16 October 1997. Crisis of southeast Asian economies since July. Working class poorer and more exploited, while an increasingly narrow elite acquires wealth; overseas finance capital dominates; Soros; the IMF.
Asia's Market Woes Ricochet Into Politics
By Yvan Cohen, in the Christian Science Monitor, 23 October 1997. Overview of the financial crisis in southeast Asia.
Indonesia invites Anwar to give talk on crisis
The Star, Saturday 25 October 1997. The Indonesian government has invited Deputy Prime Minister Datuk Seri Anwar Ibrahim to give a talk on the region's currency and stock market crisis. Indonesia eager to hear Anwar's views and steps taken by Malaysia to overcome the situation so it could be applied to Indonesia's situation.
Kuala Lumpur bourse world's worst performer; regional markets hit by Malaysian tumble
Straits Times, 21 November 1997.
Mexico 'Bailout' Revisited
Militant Editorial, 15 December 1997. The IMF bailout of Southeast Asia by US and Japan is modeledd on the Mexico bailout, and this means a cut in social programs and also economic hardship for a broad segment of the population so that profits are protected.
The End of a Miracle. Speculation, Foreign Capital Dependence and the Collapse of the Southeast Asian Economies
By Walden Bello, The Multinational Monitor, January/February 1998. Economic model and economic realities. Sidebar on Korea.
'Resist pull of economic nationalism'
By Paul Jacob, The Straits Times, 31 July 1998. The Trade and Industry Minister in a speech for the 30th anniversary of Iseas recommended the region resist the temptation to turn inwards even though some have now questioned the benefits of plugging into the global network. Re. the perception that globalisation and foreigners are to blame for the region's economic woes.
How Did the Financial Crisis in Southeast Asia Happen?
By By Ju-chang He, ShenZhen, P.R. China, 14 October 1998.
Flu grips Asian economies
From the Militant, 15 December 1998. In response to the Asian Development Bank (ADB) report.