Asian economic decline
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The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July and raised fears of a worldwide economic meltdown due to financial contagion. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. Indonesia , South Korea , and Thailand were the countries most affected by the crisis. Hong Kong , Laos , Malaysia and the Philippines were also hurt by the slump.
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Asian shares rise, US yield falls; demand weighs on oil
Corporate Asia: A capital paradox | McKinsey
In Asia, home to some of the fastest-growing economies in the past decade, 1 COVID 2 has put the brakes on rising prosperity. With demand affected both at home and in key markets of the United States and Europe, production has weakened. The economic impact has been uneven across countries, likely due to differences in the trajectory of the pandemic so far, subsequent policy responses, and the size of the most-affected sectors in different economies. And any recovery is unlikely to be swift. Go straight to smart. Get the Deloitte Insights app.
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Great Recession in Asia
Asian shares retreated on Tuesday, extending losses on growing worries over a new, potentially more infectious strain of the coronavirus. Benchmark indexes in Taiwan Y, Stocks, oil prices and Treasury yields fell on Monday, a sign investors are uneasy about the economy. That has traders worried about the possible economic consequences should it spread to other countries or prove resistant to vaccines being distributed now. Prime Minister Boris Johnson put London and the southeast of England in a new level of restrictions after scientific advisers warned they had detected the new variant of the coronavirus.
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