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If the middle-ranking godfathers do not pay the price for the Asian financial crisis, is Southeast Asia's GDP going back to 1995 a serious illness? To answer this question, we must learn about the lives of ordinary people. In theory, it is possible to measure changes in wealth levels in different societies using calculations based on macroeconomic data: economists try to measure financial wealth including financial wealth. includes cash, bank deposits, stocks, bonds and foreign investments and physical assets including real estate, plant and equipment, inventory, etc. By both measurements, A
nd if converted into US dollars, the people of Southeast Asia were poorer in early 2007 than they were in 1995, despite the return of solid economic growth. However, the macroeconomic way of measuring wealth suffers from many methodological shortcomings. Perhaps it is more practical to consider who has suffered most from this crisis by looking at simpler indicators, such as real wages and poverty.
Let's start with Singapore and Hong Kong. It is difficult to avoid the conclusion that those who pay the price for this crisis are not those who created it, and they have the least ability to pay. This consequence is partly due to the pressure to control inflation introduced after 1997 and partly due to carefully considered government policies. In Singapore,
If the middle-ranking godfathers do not pay the price for the Asian financial crisis, is Southeast Asia's GDP going back to 1995 a serious illness? To answer this question, we must learn about the lives of ordinary people. In theory, it is possible to measure changes in wealth levels in different societies using calculations based on macroeconomic data: economists try to measure financial wealth including financial wealth. includes cash, bank deposits, stocks, bonds and foreign investments and physical assets including real estate, plant and equipment, inventory, etc. By both measurements, A
nd if converted into US dollars, the people of Southeast Asia were poorer in early 2007 than they were in 1995, despite the return of solid economic growth. However, the macroeconomic way of measuring wealth suffers from many methodological shortcomings. Perhaps it is more practical to consider who has suffered most from this crisis by looking at simpler indicators, such as real wages and poverty.
Let's start with Singapore and Hong Kong. It is difficult to avoid the conclusion that those who pay the price for this crisis are not those who created it, and they have the least ability to pay. This consequence is partly due to the pressure to control inflation introduced after 1997 and partly due to carefully considered government policies. In Singapore,
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