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World Bank Report on East Asia Trade Growth

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World Bank Report on East Asia Trade Growth

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Questions and Answers

What contributed to the potential instability in international capital markets as mentioned in the text?

Decrease in financial products with higher risk profiles

Globalization of financial institutions (correct)

Higher export growth rates

Isolation of different markets

How did current account deficits affect Southeast Asian currencies?

Had no impact on their value

Weakened them due to speculative interest (correct)

Strengthened them due to increased reserves

Made them independent of the US dollar

Which country experienced a current account surplus in 1996 among the listed Southeast Asian countries?

Singapore (correct)

Philippines

Thailand

Malaysia

How did the slowdown in export growth impact the trade imbalances in Asian countries?

Led to larger current account deficits Signup and view all the answers

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%. Signup and view all the answers

Which country experienced the highest export growth rate in the first quarter of 1995?

Thailand Signup and view all the answers

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. Signup and view all the answers

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. Signup and view all the answers

What was credited for giving Asian firms more flexibility than similar transactions in the United States?

Informal lending practices Signup and view all the answers

Why were East Asian countries admired prior to the recent crisis?

Rapid growth and improved living standards Signup and view all the answers

What did economists argue was the main reason behind the Asian economic miracle?

High savings rate, good education systems, rapid labor force growth Signup and view all the answers

What was warned about Asian proclivity for government-directed investment and poorly regulated financial systems?

Could lead to over-investment, excessive debt, financial crises Signup and view all the answers