Resent Collapse of Financial Sector in Southeast Asia in 1997 Essay

Resent Collapse of Financial Sector in Southeast Asia in 1997 - Essay Example Maintenance of sufficient current account balance is identified as the successful management strategy to prevent these financial crises in future. The secondary source of information revealed some more meaningful strategies. South East Asia comprises of nations like Malaysia, Singapore, Thailand, Vietnam, Philippines, Indonesia, Hongkong and South Korea. They were recognized as tiger economies as the rate of economic growth was quite phenomenal within a short period. However, the economies of South East Asian countries witnessed a debacle in 1997-1998 leading to the sudden collapse of the financial sector. The South East Asian financial meltdown, experienced in late 1997, was considered to be one of the most serious financial debacles we have had since the 1930s. Approximately an amount of more than a trillion dollars was eroded during this crisis. It took considerably longer period for all these nations to witness the past glory, to recover from this financial crisis. However, there was a substantial recovery in some of the region's markets and investors sorted out specific strengths and weaknesses, differentiating among national economies. The weaknesses in financial markets of China and Japan were als o exposed. Hence there is a strong need to study and analyze the factors responsible for this debacle so that efficient management measures can be taken for preventing the similar type of incidents in future. Keeping this in view the present study is being formulated with the following research aim and objectives. Several researchers documented the causes for South East Asian financial crisis of 1997 (FN 1, FN 2, FN 3 and FN 4, FN 5 and FN 6, FN 7 and FN 8, FN 9). The East Asian financial crisis was reported to be originated in July 1997 in Thailand and it severely affected currencies, stock exchanges and other asset prices in several Asian countries, many considered Tiger economies (FN 10).

Report on the Religious Life of Planet Earth Essay - 2

Report on the Religious Life of Planet Earth - Essay Example These include the religion of Islam which was revealed by the prophet Muhammad and its adherents are spread all over the world such as in the Middle Eastern countries (Swatos & Kivisto, 998). Second, the religion of Christianity is notably the largest faith and has its teachings firmly grounded in the Bible. Evidently, it has approximately over 2 billion followers in the entire. Buddhism is equally another famous religion which teaches the adherents on the best way of living in accordance to Siddharta Gautama (Swatos & Kivisto, 998). Hinduism is a religion in which the faithful have their ideas firmly founded on Indian religious beliefs. The Candomble religion represents an African driven belief system of religion that traces its origins and followers in Brazil. On the other hand, Taoism connotes ancient religious, philosophical tradition that has its belief founded in Chinese worldview. There are equally contemporary and growing religions such as the Bahai religion. The aforemention ed religions are just but a sample of the many religions in the Earth. Their existence and adherents that subscribe to the religions offer part of the proof of the religious nature of man on Earth. The belief in the existence of supernatural beings is a foundational precinct in the belief system of religious people. To this end, they acknowledge the existence of supernatural beings such as gods, spirits or a supreme God. Evidently, the belief in supernatural beings offers a connection to the existence and experiences of humans. For example, among Christians they believe in a supernatural being of God who is composed of three elements. That is, The Holy Spirit, God the Father and God the Son. In addition, they believe in Jesus Christ as the Son of God. On the other hand, the Islamic adherents believe in Allah as a supernatural being and in Muhammad as his prophet. The Hindus on their part believe in the existence of 330 million gods but in one supreme ultimate god known as the Brahman. Contemporary religions such as Bahai express their faith in Bahaullah as the reincarnation or