We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

Unheeded lesson

6 October 2008 By Martin Hutchinson

Korea s current crisis is largely the fault of its banks. The economy has decent growth, low inflation, modest payments deficits and a budget surplus. However, as in 1997, the banks borrowed dollars to lend won. The won s 26% drop brought crisis, but it should prove shortlived.

This content is for Subscribers only

 

Email a friend

Please complete the form below.

Required fields *

*
*
*

(Separate multiple email addresses with commas)