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Essay / Research Paper Abstract
4 pages in length. Lessons learned from the failures of assessing country risk as they relate to national culture reflect the need to re-evaluate the way things have always been done in exchange for a more progressive outlook, an example clearly identified during the first phase of the Asian economic crisis. Bibliography lists 8 sources.
Page Count:
4 pages (~225 words per page)
File: LM1_TLCcountryrisk.rtf
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been done in exchange for a more progressive outlook, an example clearly identified during the first phase of the Asian economic crisis. It was not immediately apparent how the
collapse would ultimately impact the rest of the world since for the most part, the financial crisis was not treated with a great deal of concern; rather, a good portion
of foreign observation deemed it as nothing more than an abstract interest. However, attitudes quickly changed when the infection spread to South Korea and Japan, spawning great concern over
the inevitable impact such an economic emergency would have upon the rest of the world.1 Considered an emerging market with regard to country
risk assessment, one cannot proceed with the Thai baht failure evaluation without first noting how Thailands 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 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.2 The most prominent forewarning of what was to come based upon Thailands country risk assessment was a combination of bad financial ventures and
a power monopoly undertaken by a handful of Asian leaders 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:
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