AP World Historyhardmcq1 pt
The 1997 Asian financial crisis demonstrated:
A.The stability of state-controlled economies
B.The risks of global financial interconnectedness
C.The benefits of isolationism
D.The irrelevance of the IMF
Explanation
Core Concept
The Asian financial crisis showed how currency speculation and rapid capital flight in a globalized financial system could devastate national economies, spreading from Thailand to affect Indonesia, South Korea, and beyond.
Correct Answer
BThe risks of global financial interconnectedness
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