In 1994, _______________ devaluation of its currency set the stage for an ongoing saga of Asian financial crisis.
A)China's
B)Japan's
C)Indonesia's
D)India's
E)Hong Kong's

Question

Quizplus · Accepted Answer

China's devaluation of its currency in 1994 is often cited as a contributing factor to the Asian financial crisis by making Chinese exports cheaper relative to those from other Asian countries, thereby putting competitive pressure on their economies.

In 1994, _______________ Devaluation of Its Currency Set the Stage