How the Asian Tiger Broke - $100 Billion Gone
From Sleepy Stock Market · 01:12:54
Show by Sleepy Stock Market
On July 2, 1997, officials inside the Bank of Thailand made a quiet administrative decision that erased half the value of their currency — and triggered the largest emerging-market collapse since World War Two. Five countries. Hundreds of millions of people. A hundred billion dollars in reversed capital flows. Behind it all: a fixed exchange rate defended in secret, a property market full of empty condominiums, and a system of hidden promises that nobody in the government even knew existed. One developer ended up selling tuna sandwiches under a hospital escalator. The miracle had an expiry date nobody saw.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━#AsianFinancialCrisis #1997Crisis #FinancialHistory #KimDaeJung #Suharto #MahathirMohamad #EmergingMarkets #EconomicHistory #MarketHistory #CurrencyCrisis
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