The Asian Financial Crisis and Its Aftermath (2022)

Since the end of the twentieth century, the volume of capital has mushroomed, and the rate at which it circulates has reached lightning speed. However, the financial markets are also a battlefield of players and egos. And they can drive entire countries to the brink of disaster, since the financial markets move far faster than politicians can take action. At the end of the twentieth century, the first financial crisis of the globalised world swept across all of East and Southeast Asia, leaving a trail of destruction on its wake. In the Asian financial crisis, it became clear for the first time that the speed of capital movements can trigger crises, the likes of which had never been seen before; and they have the intensity of an all-consuming wildfire.