CIAO DATE: 06/01

The Yen, the Yuan, and the Asian Currency Crisis: Changing Fortune between Japan and China

The currency crisis that started in Thailand in the summer of 1997 was followed by repercussions on the currencies of neighboring countries, culminating in a crisis infecting most countries in East Asia. Japan and China, which have developed strong ties with the rest of Asia through trade and investment, have not been exempted from this contagion. This paper looks at the latest currency crisis in Asia from the perspectives of these two regional giants.

Full Text of General Ocassional Papers Article (PDF, 28 pgs, 180 Kb)