VOL. XLI

No. 37

14-September-1998

OPEC

The Asian And Russian Crises: How Vulnerable Is The Middle East?

When Thailand announced the devaluation of the bhat in 1997, few market analysts couldhave predicted the domino effect it would have on the region as a whole. When the Koreanwon collapsed and other 'Asian Miracle' countries ran into trouble, some economists stillrefused to acknowledge that this was more than a localized regional adjustment and thatperhaps there were global implications. Then,...