Recurring Crises In Globalized Finance  

Oleh:

Japan Echo (Editor)

Jenis: Article from Bulletin/Magazine - ilmiah internasional
Dalam koleksi: Japan Echo vol. 34 no. 6 (Dec. 2007), page 15.
Topik: Japan; Global Financial; Crisis

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ46.6 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Japan had a hot summer this year, and it was also a hot time for the regulators of the world's financial markets, who must have had many sleepless nights. The latest crisis was touched off by foreciosures in the US subprime mortgage market, which finances homes for low-income families. Its shock waves soon reached Europe, triggering fears of global financial panic. It was just 10 years ago when another financial turmoil when a number of other Japanese financial institutions also collapsed around the same time. It was strictly a made in Japan affair, though, and mainly injured only Japan's real economy. But 1997 was also the year of a more serious currency and financial crisis, one that began in Thailand in July and swept across Asia lke a contagious disease. This Asian crisis led to defaults in Russia in 1998 and wond up shaking the managemwent of influential American hedge funds, thus becoming a calamity that spread from Asia all the way to Wall Street.

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