Vivian Zhao's Choice Between Love and Wealth Chapter 570

Soros came with great momentum, and everyone thought that this was a decisive battle initiated by Soros. Even Hong Kong thought so and was ready for a decisive battle. But surprisingly, after sweeping the Hong Kong financial market, Soros withdrew.

However, by this time, the huge damage caused by the financial crisis to the East Asian economy was still expanding, and the economies of most East Asian countries hit rock bottom.

Although the currencies of various countries have depreciated significantly, exports are still on a downward trend. Domestic and foreign investment is also on a continuous decline. Domestically, due to the high interest rates and currency depreciation caused by the financial crisis, private investors are extremely cautious. Overseas investment has dropped sharply due to concerns that the financial crisis will cause the investment environment in East Asia to deteriorate, while a large amount of local funds have fled due to uncertainty about the economic prospects of the region.

Another bitter fruit of the crisis is inflation. In June, the inflation rate in the Philippines reached 10.7 percent, in Thailand 11.6 percent, and in Indonesia 9.3 percent.

Due to sluggish exports, weak investment and a large number of corporate bankruptcies and closures, unemployment has become a serious economic and social problem in many East Asian countries.