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Unformatted text preview: -Expected high unemployment--Confidence is low o People are predicting that there is gong to be a problem-Speculation in neighboring countries (Mexico) o Contagion the communication of disease from one person to another by close contact Country C: Philippines (1997) had currency crisis-Developing-Diverse economy-Large trade deficit-Peg to the dollar-Government is liberalizing-Budget surplus-High poverty rate-FDI o Starts high then crashes-Government reform-Foreign currency reserves are okay Country D: South Korea (1997) had currency crisis-Growth -Foreign borrowing -Increased liberalization-Government surplus soon changed to a deficit-Debt increase o Borrowing and speculation Country E: Poland-Join OECD-Inflation-Major economic transition seven years ago-Liberalization-Recession -FDI increase...
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This note was uploaded on 04/07/2008 for the course IBUS 200 taught by Professor Elms during the Spring '08 term at American.
- Spring '08