Review the following: the Asian financial crisis that occurred in the last few years of the 20th century and the global financial crisis of 2008–2010. What were the root causes of the financial crises? What were the resulting economic effects? What were the similarities and differences between the two crises?
The question belongs to Economics, particularly to Macroeconomics and it’s a review about the Asian financial crisis and the 2008-2010 global financial crisis finding out their similarities and differences with the roots causes for each of them. While in the Asian crisis, steep fall of currency with huge inflow of foreign currency, as result the currency value degraded, resulting in the financial crisis. On the other hand, in the United States events before 2008 such as housing loans to sub-prime borrowers went bad and the whole economy witnessed a crunch.
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