Who starts the crisis?

The 1997 Asian financial crisis that was triggered in 2^nd of July and start from Thailand and the storm spread into other Asian countries very quickly. The contagion expanded to Malaysia, Singapore, South Korea, Hong Kong and so on sooner. This crisis breaks the Asian rapid economic development system. As country’s economy goes depression, their political situation also began to chaos.

 

Speak of that Asian financial crisis, George Soros is one person has to carry out. In another word, we can say Soros is the person who starts this crisis. In the early 1997, Soros and other arbitrage fund manager began to selling the Thai baht, the foreign exchange market in Thailand breakdown immediately. By way of the Thai baht went down, ‘Soros Storm’ sweep to Indonesia, the Philippines, Myanmar and other countries. All the currency has a substantial depreciation, leading to factory closure, bank failures and raising prices. - Click here to know more about George Soros.