Which of the Following Contributed to the Asian Crisis

question 46

Multiple Choice

Which of the following contributed to the Asian Crisis?

• A)The strong capital inflows from the industrialized countries mainly provided financing for large fiscal deficits in the South East Asian countries.
• B)The currencies of most of the Asian countries were substantially undervalued.
• C)The Hong Kong dollar was allowed to depreciate.
• D)The local borrowers in the Asian countries scrambled to sell local currency to establish hedges against exchange rate risks.

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