The recovery process of the Asian crisis countries shows, however, that neither of these theories has effectively addressed the recovery process, especially crisis management. When examining the weakfundamentals view, it is striking that the recoveries started before the im
GDP grew by 5. 8 percent in the last quarter of 1999 relative to the same period of the previous year, enabling a small positive growth in calendar 1999. Consumption and destocking continue to be the main engines of the emerging recoverya pattern shared by other Asian countries emerging from the crisis.
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.