Which of the following was LEAST affected by the Asian contagion of 1997?

Question

Quizplus · Accepted Answer

China was least affected by the Asian contagion of 1997 because it had a relatively closed financial system and was not heavily reliant on foreign investment or exports. It also implemented strict capital controls and had a large pool of domestic savings, which helped to insulate it from the crisis. In contrast, Korea, Indonesia, Thailand, and other countries were hit particularly hard by the contagion, experiencing significant currency depreciations, stock market crashes, and economic downturns. The IMF was also affected by the crisis, as it provided loans and other forms of support to these countries to help them weather the storm.

Which of the Following Was LEAST Affected by the Asian