Paper Tigers:

The Asian Financial Crisis of 1997

It is May 14, 1997, and East Asia’s once prosperous region faces its most formidable challenge in decades. After years of unhindered economic growth, cracks are being seen as Thailand spends billions of dollars of its foreign reserves to protect its currency against speculative attacks. It is expected that the other “Asian Tiger” states are to follow down this rocky path. Even the leading economies of Japan and South Korea, alongside the international community, are alarmed of their own economic futures. Perhaps above all else, the people of East Asia are becoming more anxious and fearful of their futures by the day. Are state revolutions on the horizon? It remains up to the delegates of this committee to guide the path of the world’s most rapidly developing region in its most tumultuous time.

Victoria Lu
Adam Braver
Crisis Director