In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:

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The collapse in the values of their currencies made these countries less attractive to foreign and domestic investors, leading to reduced investment. This reduction in investment contributed to economic instability and hindered their development.

In the Late 1990s, Thailand, Malaysia, and Indonesia All Experienced