The ENTIRE History of the MAJOR Financial Collapse from the Asian Crisis: The Asian Dragons

The Asian Financial Crisis (1997) was a major financial collapse that affected several Asian countries, including Thailand, Indonesia, South Korea, and Malaysia. It was triggered by volatile capital flows, where large amounts of foreign investment rapidly exited these economies, causing a sharp decline in currency values, stock markets, and economic stability. The crisis began in Thailand when the government was forced to float the baht after failing to support its currency, which led to a domino effect throughout the region, with severe economic and social impacts. Many of these countries had to seek bailouts from the International Monetary Fund (IMF) and implement strict austerity measures to recover.