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Introduction

In: Asia and the Subprime Crisis

Author

Listed:
  • Chi Lo

    (Economic Strategist)

Abstract

It is an amazing coincidence that the US subprime crisis, which has swept the world into an unprecedented turmoil, happened exactly ten years after the Asian crisis. In July 1997, the Asian crisis broke in Thailand and then spread to the rest of Asia. In July 2007, US investment bank Bear Stearns disclosed that its two subprime hedge funds had lost nearly all of their value amid a rapid decline in the market for subprime mortgages. The revelation set off the subprime crisis, which spread throughout the world in the following months.

Suggested Citation

  • Chi Lo, 2009. "Introduction," Palgrave Macmillan Books, in: Asia and the Subprime Crisis, pages 1-6, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25113-7_1
    DOI: 10.1057/9780230251137_1
    as

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