WHAT WAS S&L CRISIS? Savings and loans crisis was the subsequent failure of many S & L institutions in 1980s. S&L Institutions lost money because of upwardly spiraling interest rates and asset-liability mismatch. Net S&L income which totaled $781 million in 1980 fell to negative $4.6billion and $ 4.1 billion in 1981 and 1982. During the first three years of the decade, 118 S&Ls with $43 billion assets failed.
Introduction: China has a rich and old history of being the world's leading civilization, outpacing the rest of the world in the arts and sciences. In recent years China has faced incapacitating issues that entered the stage in the 19th and early 20th centuries. During this period of time the country was beset by civil unrest, major famines, military defeats, and foreign occupation. After the end of World War II, the communists under MAO Zedong established an autocratic socialist system that, while ensuring China's sovereignty, imposed strict controls over everyday life and cost the lives of tens of millions of people. After 1978 China's government focused on market-oriented economic development and by 2000 output had quadrupled.
Economy Laos lost nine-tenths of their currency's value against the US dollar in 1997 during the Asian currency crisis. A report from the Asian Development Bank states that even if absolute poverty incidence has halved, the distribution of private household expenditures has become more unequal in Laos. Because a large portion of the Lao population don't have the required education, skills, and experience for jobs outside the agriculture sector, foreign businesses who invest in the country usually bring their own foreign staff with them. This creates a deeper unemployment problem. Healthcare Approximately 44% of children suffer from stunted growth and 27% are severely underweight.
A Quick Look At 21st Century Poverty Since the 1960’s, government programs have considerably lowered the number of households living in poverty, giving families access to necessities such as food and healthcare. The number of families living below the poverty line fell 6.2-percent between 1959 and 2014, and incomes doubled, rising from $17,292 to $30,176 annually between 1970 and 2014. In 1970, the growing economy combined with government programs slashed the poverty rate in half. Massive growth of the U.S. economy also fueled this improvement. Despite this early success, the poverty rate rose again over time due to various crises, such as the oil crisis of 1999 and the recession of 2014.
This signified as a drop and it reflected on the World oil price market that alerted countries to tighten energy product supplies due to slow oil production. It was stated that the Iranian revolution was the closest cause of the highest price in post – WWII history. However, it could be argued that the revolution’s impact on prices would be temporary and it boosts Iranian oil production after the revolution to four million barrels per day. At the same time Organization of Petroleum Exporting Countries was trimming output as well as the companies and governments started to build reserves. With the combination of those actions causes an upward surge on oil prices which escalated from $14 per barrel of the beginning of 1979 to more than $35 per barrel in 1981.
This was because in the Philippines growth rate rates were quite low during the early periods of the 1990s, but surprisingly enough the country still had an average of about 5 percent after the year 1994. Only in 1996 did most countries in the region experience a marginal slowdown in growth; for example, the growth rate in Korea fell from 8.9% of GDP in 1995 to 7.1% in 1996 (Choudhry, 2005). Finally the steps taken by the government to make sure such a financial economic failure don occur ever again and burst the bubble of Thailand’s economy, the government took protective measures and policies.
Thailand's booming economy came to a halt amid massive layoffs in finance, real estate, and construction that resulted in huge numbers of workers returning to their villages in the countryside and 600,000 foreign workers being sent back to their home countries. The baht devalued swiftly and lost more than half of its value. The baht reached its lowest point of 56 units to the U.S. dollar in January 1998. The Thai stock
While free trade aims at attracting more consumers to increase sales turnover and generate more profits, fair trade aims at educating the consumers about the benefits of producing goods without the exploitation of labour or the environment. Thus, fair trade mainly thrives on the demand created by the consumers for such products. Free trade can benefit everyone, the developed and developing world. (Hufbauer, 2008) Free traders believe the best way to lessen poverty in the long run is to permit free trade while fair traders think that opening trade will even further make rich nations becoming richer and poor nations becoming poorer. But there are many ideas on having a managed fair trade which will generally result in sustainable long-term prosperity and equality between
Nations saw a “harmonized” downturn. Expat oriented economy like Singapore saw large declines and lead to worsening situation such as retrenchment of people and growth in numbers of unemployment. Singapore was not immune to the impact of the Global Financial Crisis. The local economy was broad down between late 2008 to the start of 2009. Singapore was affected in mainly 3 different ways to my understanding.
VIETNAM’S ECONOMIC RESPONSE TO THE RISE OF CHINA Vietnam’s economic condition: Vietnam communist party (VCP), after reunification of the country in 1975, actively followed on a economic reform along the socialist in order to improve the economic condition of the country. But the situation became even worst thus leading to adoption of Doi Moi policy in 1986. Doi Moi, followed a series of new policies, which includes developing a multi-sector market based economy, renovating the economic structure, stabilizing the socioeconomic environment, promoting science and technology, and opening up the country’s foreign relations. Thus, Doi Moi policy was not just restricted to economic sector but its impact was felt in all directions- economic, political,