The 1997 Asian financial crisis was one of the most devastating economic periods since records began, gripping Southeast Asia for most of the late 1990s.  Originating in Thailand in July 1997, this crisis rapidly spread to many other countries with a ripple effect, demonstrating the impact of financial contagion. Nicknamed the Tom Yam Kung crisis (a hot and sour shrimp soup which is seen as representative … Continue reading The Asian Financial Crisis