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1. Asia performed better during the 2007- 08 global financial crisis (GFC) than during the 1997-98 Asian financial crisis (AFC). A. What are the differences

1. Asia performed better during the 2007- 08 global financial crisis (GFC) than during the 1997-98 Asian financial crisis (AFC).

A. What are the differences between the AFC and GFC? [7 Marks]

B. Why did Asian economies perform better during the GFC compared to the AFC? [7 Marks]

C. Why are Asian economies not free from future potential bubbles? [6 Marks]

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