With the onslaught if the Asian financial crisis star6ng from
1997, Asian economies took a plunge for the worst
Copyright © 2015 Dr. Lee Lai To 16
• Hardest hit were some of the countries in ASEAN and
Northeast Asia, notably Thailand, Indonesia and Korea
• Help from the west , including the US, was lukewarm and
condi6ons for rescue packages from the Interna7onal
Monetary Fund were seen to be harsh
• It was under these condi6ons that ASEAN and Northeast Asia,
namely, China, Japan and Korea, came together to form the
ASEAN Plus Three (APT) exclusively for East Asian states
With the onslaught if the Asian financial crisis star6ng from 1997, Asian economies took a plunge for the worst Copyright © 2015 Dr. Lee Lai To 16 • Hardest hit were some of the countries in ASEAN and Northeast Asia, notably Thailand, Indonesia and Korea • Help from the west , including the US, was lukewarm and condi6ons for rescue packages from the Interna7onal Monetary Fund were seen to be harsh • It was under these condi6ons that ASEAN and Northeast Asia, namely, China, Japan and Korea, came together to form the ASEAN Plus Three (APT) exclusively for East Asian states
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