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Have you ever been in a situation where you were low cash and in debt Well I know I have I remember one time when I had used up all of my money for the month and owed at the same time my sister ten dollars Boy that was pure hell You cant buy anything and you feel like you have no control over anything Well imagine an entire continent in a financial rut That is what is currently going on in Asia This dilemma is known as the Asian Financial Crisis Now what exactly is the Asian Financial Crisis Well it is the current imbalance of Asias economy While some areas are doing great most areas are poor and economically unstable Currency value has gone down drastically the stock market is at an all time low and people all over the continent are fearing for their futures The United Nations definitely should get involved in this crisis They should have been more involved in international loaning which would have helped if not prevented the debt Asia is in now They also should have made sure that the currency rate stayed stable the second the stock market began to drop Perhaps if the UN was more involved in Asias economic affairs this crisis would not be in this state of mishap There were many things that caused the Asian Financial Crisis One of them would have to be overseas borrowing It is very important to understand that if the country is borrowing from the rest of the earth its foreign debt will grow over time Thus flows items on income and cash flow statements translate into changes in stocks balance sheet items like family fortune the stock of capital government debt and net foreign debt So in the end Asian countries borrowed too much and were careful too little Companies in the worst-hit countries South Korea Indonesia and Thailand borrowed boundless sums of
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