Many people were surprised as well as affected by the Asian economic crash of 1997. ... The model used by Asian economies favored export markets, domestic investment, and lower savings vs. higher investment (current account imbalance) to list a few. ... A country can successfully borrow and pay off the loan only when there are good prospects. ... Well, the Asian banks were drawing a very high number of foreign loans. ... Well, the Japanese economy stagnated in the early 1990's. ...

• Word Count: 1820
• Approx Pages: 7
• Has Bibliography
• Grade Level: High School

Both countries have their own good and bad points, therefore in this essay; I aim to analyze each of the country and their financial position showing their advantages and disadvantages in terms of being a good and recognizable International Financial Centre. ... With these qualities and more, HK has many advantages in order to be a good quality IFC. ... As a fundamental element, both have a well-established and widely accepted legal framework, based on the English common and contractual law system. ... Of course, it is always easy to be a good IFC when the economy and other related ...

• Word Count: 1965
• Approx Pages: 8
• Grade Level: Undergraduate