Answers at least 4 paragraphs being careful to be precise about the economic logic 2.

It is often said that the East Asia financial crisis of 1997 showed a) the meaning of financial contagion, b) importance of supervising and regulating maturity and currency mismatches, c) the dangers of a fixed exchange rate, d) the risks of excess leveraging, and e) the fact that not all IMF programs are properly designed. EXPLAIN WHAT EACH OF THESE OBSERVATIONS REFERS TO AND WHY IT HELPS EXPLAIN THE CRISIS. Add any other factors that helps us understand the causes and consequences of the crisis.