S dollars because interest rates were much lower than on their
             own currencies. The exchange rates of local currencies were pegged against the dollar, so they had no fears about having to earn
             money in local currency to pay back loans in dollars.hey didn't realize at the time what a mess they were getting themselves into.
             Another thing to keep in mind when you try to figure out what caused the crisis was the fact the Asian economic
             strategy was very unorganized. See, their economy was based on trust, not organization and rules. The people who bought and
             borrowed and sold and lent were all "friends". That meant they could trust that their "friend" would not disobey disserve them. It
             meant that they could trust what was going on around them was right. It meant that they didn't have to have special rules and
             laws to make sure that their customers acted morally. So, think about what happened when the old manager died, and some new
             guy came in--Uh oh. Chaos alert! ) website: http://1208.921.80/hotasia.htm AND website:
             http://www.worldcom.nl/ni/issues/asia.htm AND
             (All these things I just told you about triggered the stock market to flop. People, when they get scared the market is
             about to drop, flea and quickly sell all of their stock. So, when people started to finally realize that what was going on was bad, they
             made it even worse by selling their stock causing the stock market to plunge even lower. So, all in all, a lot of not so good things
             were going around Asia and caused financial chaos in the Asian countries.
             Although the crisis was and is a continental issue, it effected each country differ
             ...