Subject: Economy

The Asian Financial Crisis, also called the "Asian Contagion", was a series of currency devaluations and other events that spread through many Asian markets in 1997. The Asian Financial Crisis was stemmed somewhat by financial intervention from the IMF and the World Bank. However, market declines were also felt in the United States, Europe and Russia as the Asian economies slumped. Explain briefly about Asian financial crisis and their impact towards Asia in general as well as Malaysia in specific. (25%)