East Asian Crisis in the Economy

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…outlook. Since most of the Asian nations have balance budgets, low inflation, cheap labor, pro-business governments, and high savings rates, the long-term outlook for these countries is very good (Marshall 1). The financial crisis, instead of destroying the Asian tigers, will merely serve as a much needed lesson in debt management, orderly growth, competent accounting practices, and efficient government. Considering the size of Asias contribution to the world economy, a rapid recovery will be greatly anticipated.