Which of the following countries went through a financial crisis in 1997?
A)Russia
B)Canada
C)Italy
D)India
E)Korea

Question

Quizplus · Accepted Answer

Korea went through a major financial crisis in 1997, also known as the Asian financial crisis, which started with the devaluation of the Thai baht and quickly spread to other Southeast Asian countries, including Korea. The crisis was caused by factors such as high levels of foreign borrowing, weak financial regulation, and a collapse in investor confidence. Russia also experienced a financial crisis in 1998, but this was a separate event. Canada, Italy, and India did not go through major financial crises in 1997.

Which of the Following Countries Went Through a Financial Crisis