The current situation in the world’s economies

Observers of current developments in the world economy spent much of 1997 and early 1998 trying to take account of a financial panic that broke through the surface in South-East Asia and spread from one country to another, prompting rescue efforts for the economies of some countries and policy changes in others to better defend against the panic. The panic mainly affected developing countries but some transition economies were also hit and had to take defensive and adjustment measures. It even helped to stop Japan’s emerging recovery and, by the end of 1997, Japan was again in outright recession.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Climate Action