18 Speculating based on exposure. During the Asian crisis in 1998, there were rumours that China would
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18 Speculating based on exposure. During the Asian crisis in 1998, there were rumours that China would weaken its currency (the yuan) against the US dollar and many European currencies. This caused investors to sell stocks in Asian countries such as Japan, Taiwan and Singapore. Offer an intuitive explanation for such an effect. What types of Asian firms would have been affected the most?
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