During 1997, stock markets in Asia collapsed. Hong Kong's wasdown nearly 30 percent, Thailand's was down 62 percent, andMalaysia's was down 60 percent. Japan and Korea experiencedbig drops as well.
What impacts would these events have on the economies of the countries themselves? Explain your answer.
In what ways would you have expected these events to influencethe U.S. economy? How might the spending of Asians on American goods be affected? What about Americans who have invested in these countries?