Part one of term paper
: The Lexus and The Olive Tree Summary: Opening Scene: The World Is Ten Years Old. “ The trouble spread to one continent after another like a virus.” USA Today On December 8, 1997, the government of Thailand shut down 56 of their countries finance houses. These finance houses borrowed heavily in U.S. dollars and lent those dollars ...

Part two of term paper
... the finance houses back, many finance houses couldn’t repay their foreign leaders and the whole system went into gridlock putting 20,000 white-collar employees out of work. The Thai crisis triggered a general flight of capital out of practically all the Southeast Asian emerging markets, driving down the value of currencies in South Korea, Malaysia and Indonesia. Southeast Asian slowdown began to have an important effect on commodity prices around the world, including Russia. Too many of Russi ...