Which of the following was NOT one of the causes of the Asian financial crises of 1997 and 1998?
A) A current account deficit and financial account surpluses
B) The use of exports as an engine of economic growth by the countries involved
C) China's 1994 devaluation of its fixed exchange rate
D) The appreciation of the U.S.dollar and depreciation of the Japanese yen
E) Crony capitalism
Correct Answer:
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