The Causes of the Asian Crisis. There are many speculations about the causes of the Asian Crisis. From my research I found out that there is quite a number of reasons for the Asian currency crisis. There is a book called; The East Asian Miracle, which was published by the World Bank. This book expressed the relationship between government, the private sector, and the market. (See Hoover Digest 1998 No.3. William McGurn. What went wrong?) The book talks about the economic bloom in Southeast Asia. The East Asian countries borrowed a lot of money from the IMF and World Bank and used it to create a better economy for themselves. I found out that the following countries due to their reoccurrence during my research experienced the bloom. The countries are as listed: South Korea, Indonesia, Hong Kong, Thailand, Malaysia, The Philippines, Singapore and Taiwan. These countries experienced a lot of growth, growth that even doubled the growth in the rest of East Asia, and almost tripled the growth in Latin America. The economic miracle started in South Korea, Hong Kong, Taiwan and Singapore then Malaysia, Thailand, Indonesia and the Philippines. These countries achieved very remarkable rates of growth and development. They built high quality manufacturing industries from clothes to computers. (What went wrong? Hoover Digest 1998 No.3 William McGurn...
