12 Questions
What contributed to the potential instability in international capital markets as mentioned in the text?
Globalization of financial institutions
How did current account deficits affect Southeast Asian currencies?
Weakened them due to speculative interest
Which country experienced a current account surplus in 1996 among the listed Southeast Asian countries?
Singapore
How did the slowdown in export growth impact the trade imbalances in Asian countries?
Led to larger current account deficits
What happened to trade as a share of GDP in East Asia from 1970 to 1995?
It increased considerably, rising from 15% to over 50%.
Which country experienced the highest export growth rate in the first quarter of 1995?
Thailand
How did the entry of new competitors impact the ASEAN-5 countries' export growth?
It led to a decrease in export growth rates due to competition.
How did the recession in the Japanese economy affect the ASEAN countries' export growth?
It resulted in a decline of export growth for key trading partners.
What was credited for giving Asian firms more flexibility than similar transactions in the United States?
Informal lending practices
Why were East Asian countries admired prior to the recent crisis?
Rapid growth and improved living standards
What did economists argue was the main reason behind the Asian economic miracle?
High savings rate, good education systems, rapid labor force growth
What was warned about Asian proclivity for government-directed investment and poorly regulated financial systems?
Could lead to over-investment, excessive debt, financial crises
Test your knowledge of the World Bank report findings on trade growth in East Asia. Learn about the rapid increase in trade as a share of GDP, export growth rates in countries like Thailand, Malaysia, and Indonesia, and the slowdown observed in the mid-1990s.
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