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Asian economic crises: What were the causes and consequences? To what extent does their occurrence relate to globalization?
The Asian economic market was seen as a success in terms of rate of growth and gains in living standards. Their remarkable achievement in sustaining a high rate of economic growth over a long period was significantly fostered by their active participation in the globalization process. This enabled them to take advantage of the increasing opportunities for using trade as an engine of growth and for accessing external capital and technology. In almost all Asian countries, the export centre was the main growth engine, although the governments role in promoting specific industrial and export p…
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