Open AccessDer Kalte Krieg und die Asienkrise
Author(s) -
Chalmers Johnson
Publication year - 1998
Publication title -
prokla
Language(s) - English
Resource type - Journals
eISSN - 2700-0311
pISSN - 0342-8176
DOI - 10.32387/prokla.v28i111.850
Subject(s) - financial crisis , china , currency , market liquidity , crunch , currency crisis , economics , diplomacy , financial system , political science , economy , keynesian economics , monetary economics , medicine , politics , law , physical therapy
The Cold War relationships in Asia are an important reason for the present crisis. They caused serious overcapacities throughout the Asian region. Moreover, by devaluating their currency China and Japan had strongly improved their competitiveness against the »Asian Tigers«. When foreign capital was pulled out of these economies, it came to liquidity crunch. For overcoming the crisis not only financial measures but new relationships in the Pacific region are necessary.