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Essay / Research Paper Abstract
5 pages in length. Considered an emerging market with regard to country risk assessment, one cannot proceed with the Thai baht failure evaluation without first noting how Thailand's economic presence was inextricably linked to all of Asia as a whole. Prior to the Asian Economic Crisis, Thailand held the strongest economic position in all of Southeast Asia. The country's financial situation was strong and, for the most part, it maintained a stable monetary system. However, all of that changed quite drastically in July, 1997, when the plummet of the Thai baht sent its entire economic status into a tailspin, ultimately threatening the world's economy, as well. Bibliography lists 10 sources.
Page Count:
5 pages (~225 words per page)
File: LM1_TLCThaiB.rtf
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Unformatted sample text from the term paper:
a whole. Prior to the Asian Economic Crisis, Thailand held the strongest economic position in all of Southeast Asia. The countrys financial situation was strong and, for the
most part, it maintained a stable monetary system. However, all of that changed quite drastically in July, 1997, when the plummet of the Thai baht sent its entire economic
status into a tailspin, ultimately threatening the worlds economy, as well. The most prominent forewarning of what was to come based upon Thailands country risk assessment was a combination of
bad financial ventures and a "monopoly of power exercised by some Asian leaders" (Anonymous, 1998, p. PG) ultimately branded for triggering the economic downfall and eventually sending the country into
financial collapse. When establishing which variables and/or evaluation techniques did or did not accurately reflect the country risk, one can look to the
fact that one particularly disturbing factor that could have foreseen the financial fall: The way in which business had been handled for decades. The Asian government has had a
large role in their banking practices since the 1960s, where political influence was one of the main, if not the only, criterion in appointing bank directors. Clearly, the well-known
power struggle within the Asian system can be blamed for at least part of the collapse. As a direct result, the government kept close tabs on where capital went
and to whom. Of course, some borrowers were more highly favored than others because of their proper connections. Furthermore, there was no accurate system of checks and balances
in place with shareholders left in the dark, because no one involved saw the need to answer for their actions (Graham, 1998). Determining if there was any public evidence of
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