The asian economic crisis

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Will financial markets accept something short of root-and-branch reform of Indonesian governance? In addition, with South Korea's devalued currency, and China's steady gains, many companies complained outright that they could not compete. The step from poverty to sufficiency in these countries is still quite shallow, largely because economic growth has not been as rapid and sustained as that in North East Asian countries. Inflation — devaluation caused import prices to rise. Growth plunged from positive 7 percent in the years leading up to the crisis to negative 7 percent, with Indonesian gross domestic product declining 13 percent. These economies grew, year after year, at pace two or three times as fast as the industrial countries.
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