Money Matters: An IMF Exhibit -- The Importance of Global Cooperation

Globalization and Integration (1989-1999)

Part 5 of 8


Conflict &
(1871 - 1944)

Destruction &
(1945 - 1958)
The System
In Crisis

(1959 - 1971)
the System
(1972 - 1981)
Debt &
(1981 - 1989)
Globalization and Integration
(1989 - 1999)

Asia in the 1990s

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Asia is a continent of remarkable political, cultural, social and economic diversity. Despite this, the region is thoroughly integrated in the world economy. Asia includes the world’s most populous country, the world’s largest democracy and the world’s second most productive economy.

Economic setbacks of the late 1990s in Korea, Indonesia, and Thailand are thought to be a temporary exception to Asia’s unrivaled economic growth over the past 50 years.


Japanese Toyota plant worker


Meltdown in Asia

In 1997, as investor confidence waned, Southeast Asia suddenly found itself in one of the worst financial crises of the postwar period. The crisis threatened to spread economic malaise to fragile transition economies and provoke recession in the industrial world. By early 1998, the IMF had provided $36 billion to support reform efforts as part of an international support package worth some $100 billion. Because of the severity of the crisis, however, corrective measures are likely to take several years.


China's economy



  Hong Kong Stock Exchange

Transition to the Free Market Collapse of the Soviet Union Recovery From Debt Progress in Africa
Asia in the 1990s European Economic Unity The New Millennium Looking to the Future

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