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Ghosts of 1997 financial crisis return to haunt Asia

From money.cnn.com

In Asia, it's starting to look a bit like 1997. Eighteen years after a financial crisis ripped through Asia, toppling governments, bankrupting companies and generally wreaking havoc, the region's currencies are once again coming under intense pressure. Malaysia and Indonesia, in particular, appear to be in trouble. Over the past year, the Malaysian ringgit has lost nearly a quarter of its value against the dollar. Indonesia's rupiah has shed 15% over the same time period. Both currencies are now at their weakest level since the Asian financial crisis, and losses continue to pile up. Adding to concerns, Beijing has ... (full story)

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