Asian Woes Crown Year of Economic Drama

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亚洲,特别是东南亚地区的经济增长在过去的几年里曾为世人所瞩目,因此赢得了Asian tigers的美誉。但是,从1997年下半年以来: First Thailand,then Indonesia and South Korea were forced to swallow theirpride. 到了10月底便触发了全球股市的下挫,接着欧洲某些国家也始受连累。但是,经济界人士开始探讨新经济模式的问题: And some economists even talked about a new economic paradigm-an era inwhich the dream of sustained high growth and low inflation might be achieved byharnessing technological change. 然而,现在尚不是心平气和地坐下来举办研讨沙龙的时候,迫在眉睫的问题是:救急!After repeated attacks on the Korean currency,the won,that destabilizedbanks,Senul was forced to go the IMF at the start of December for US $57 billion inemergency assistance. 57亿美元的巨额救急款是否会奏效?分析家们似乎并不乐观: Some analysts questioned whether even that would be enough to solve SouthKorea’s problems. 当然,欧美的经济学家最关心的还是自己家门口的事。当日本第4大证券公司倒闭、日元贬值的时候,西方感到全球性的危机正在迫近: But the collapse of Japan’s four Economic growth in Asia, especially in Southeast Asia, has attracted worldwide attention in the past few years and won the reputation of Asian tigers. However, since the second half of 1997: First Thailand, then Indonesia and South Korea were forced to swallow theirpride. By the end of October, the global stock market had triggered a setback, and then certain countries in Europe had begun to suffer. However, the economic community began to explore the issue of the new economic model: And some economists even talked about a new economic paradigm-an era in which the dream of sustained high growth and low inflation might be achieved by technological progress. However, it is not yet calmly When sitting down to hold the seminar salon, the most pressing issue was: Emergency! After repeated attacks on the Korean currency, the won, that destabilizedbanks, Senul was forced to go the IMF at the start of December for US $57 billion inemergency assistance. 57 Will billions of dollars worth of emergency payments work? Analysts seem not optimistic: Some analysts questioned whether even that would be enough to solve South Korea’s problems. Of course, European and American economists are most concerned about their own doorsteps. When the fourth-largest securities firm in Japan closes down and the yen depreciates, the West feels that a global crisis is approaching: But the collapse of Japan’s four
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