The Asian Currency Crisis

Question

Quizplus · Accepted Answer

The Asian Currency Crisis was more serious than the Mexican peso crisis because it resulted in a far greater extent of contagion. The impact of the crisis was felt not just in Asia, but also in other regions such as Russia and Brazil. Choice A is incorrect because the Mexican peso crisis actually preceded the Asian Currency Crisis. Choice C is incorrect because the crisis affected not just Asian currencies, but also currencies in other regions. Choice D is incorrect because the crisis had significant global impacts and was not limited to the Pacific Rim.