The problem of the financial turmoil in 97, the cause of the outbreak of the financial crisis in 9

In 97, the economic development of Southeast Asian countries was rapid, but there were major hidden dangers. 1. Too many short-term loans in external debt. 2. Insufficient foreign exchange reserves in the US dollar.

Soros chose Thailand in Southeast Asian countries to start, selling the Thai baht to depreciate, Thailand ** used foreign exchange reserves to guard the Thai baht, but due to the small foreign exchange reserves, when the reserves were exhausted, had to give up the Thai baht, the Thai baht depreciated sharply, causing panic in the capital market, short-term financing has withdrawn, and the depreciation of the Thai baht has accelerated. At the same time, it caused the Great Depression of Thailand's domestic economy. Estate**.

At the same time, Soros is quietly buying real estate in Thailand. When the storm gradually subsided, Thailand's economy re-emerged, and real estate gradually recovered. Soros made a fortune.

This battle can be called his classic battle.

The currency of Southeast Asian countries depreciates, the dollar appreciates, the companies and investors who hold the dollar make money, and on the contrary, they lose money, and many Southeast Asian companies and ** have dollar debt, and the currency depreciation leads to the domestic local currency income can not repay their dollar debt at all.

The 97 financial turmoil was orchestrated by international financial speculators led by Soros, the founder of Quantum. In fact, the truth of this ** ticket market is almost the same. Just ** for currency.

They make use of finance **** a currency. Then wait until you have enough chips to throw. Convert to US dollars.

Resulting in the depreciation of the country's currency.

Afterwards, someone made up a little book called Financial Killer, which you can find and read. BTW, in addition to being the world's largest financial speculator, is also one of the biggest philanthropists.

It should be added that the Financial Secretary of Hong Kong, Mr. Donald Tsang (who is now the chief executive of Hong Kong), quickly gathered Hong Kong's financial elites and set up a task force to successfully defeat the financial predators through market means (because Hong Kong's most attractive economy is a free economy, so it cannot rely too much on administrative intervention) to defend Hong Kong's status as Asia's financial center, and it was also a speculative failure of Soros known to the world.

The causes of the 1997 financial crisis: the economic situation of Asian countries. The impact of U.S. economic interests and policies.

George Soros personally and some of the factors that support his capitalist clique. On July 2, 1997, the Asian financial turmoil swept through Thailand, and soon spread to Malaysia, Singapore, Japan, South Korea, China and other places.

After the outbreak of the Asian financial crisis in 1997, the currencies of Thailand, Indonesia, South Korea and other countries depreciated sharply, and at the same time caused most of the major Asian countries to lose their currencies.

The impact on foreign trade enterprises in Asian countries has caused the collapse of many large enterprises, the unemployment of workers, and the social and economic depression, breaking the scene of rapid economic development in Asia. Among them, Thailand, Indonesia and South Korea are the countries hardest hit by the financial turmoil.