The first modern financial crisis in the globalized world | DW Documentary

When the Asian financial crisis hit, it was something the world hadn‘t seen since the 1930s. For the first time since World War II, the global economy faced the very real threat of a complete collapse. Disturbingly, the sudden crisis came as a complete surprise.
In the late 1990s, the world economy seemed to be on a steady path of growth. This trajectory was driven primarily by the emerging economies of Southeast Asia, the global region with the strongest economic growth. Then, within a very short time, millions of people suddenly lost their livelihoods. Hunger, mass unemployment and uprisings returned to these previously prosperous countries. What was particularly disturbing to crisis managers at the time was that they had not anticipated the crisis, and were not prepared for it. Their hasty attempts to correct the problem did not bear fruit for a long time - in fact, in the short-term, these measures worsened the situation. How could this happen?
Ten years later, in 2008 and 2009, the global economy was once again on the brink of a complete collapse. What became known as the Global Financial Crisis demonstrated how much our world depends on the financial market. In this documentary, world-renowned experts question whether the toxic threat of collapse might perhaps be an inherent part of our economic system. To date, there is no satisfactory answer to this question. One conclusion that can be drawn: we are still living on an economic powder keg, today.
#documentary #dwdocumentary #globalization #economy #economiccrisis
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[@firminusplj9339]

The 1997 Asian financial crisis was the worst situation for Indonesia and my family in particular, my parents' small business went bankrupt. I was 5 years old then, but I remember very well the first time I saw my parents cry

[@stealph51]

Thank you DW, watching this documentary felt like time well spent

[@syedadeelhussain2691]

I am surprised that the main stellar character that emerged out of this crisis with a V sign was DR M of Malaysia has not been discussed in this documentary. I was living in KL back in those days, and it was only Malaysia which refused to accept the IMF Bailout funds and decided to peg the MYR to the dollar.

[@albroz6731]

This just made me realize how abusive the US and the IMF can be to emerging countries when they don't align with their interests after they literally exploit them.

[@TheNaturalLawInstitute]

This is one of the best treatments of the subject I've found, and will reach my students. Well done.

[@geinikan1kan]

I have watched more DW docs than any other platform. And I am not even in Europe. Excellent well researched stories. Like a piece of investigative journalism in a 40 minute video. Great stuff.

[@zegfeldmobata4160]

When I see a documentary from DW, I relax knowing that they do their best to ensure facts are accurate. DW continues to be impressive and insighful. Your efforts are appreciated.

[@svolveras]

Any documentary with the participation of Joseph Stiglitz shall always be great. Thanks DW for your amazing work.

[@kevinswift8654]

This was really well done. As an aside also enjoyed seeing all the cities around the world plus historical footage.

[@azeezmoideen9262]

Over the past couple of years, I watched regularly without missing out on any DW documentaries. It is amazing. It relays us more insights into the world as well as uplifts the visions of exactly what is going through the globe about every subject. Thanks a lot, Dw team 👥

[@bersah4517]

Another high quality piece of content from DW

[@amulyamalhi]

I immensely enjoyed watching this brilliant documentary as it provided a lot of insights about the global economic design and the precautionary measures that a particular country needs to take in order to prevent economic crises!

[@ksideth]

An amazing educational video. Million thanks to DW.

[@sidneyfung2723]

Thanks for producing this excellent documentary. The 2008 global financial crisis seems to be more widely discussed. But I do believe that there is so much we can learn from the Asian Financial Crisis.

[@jesdelighted7458]

Thank you for sharing your thoughtful content... for

[@prof.puggle1631]

great summary!

[@susul.2812]

Such an interesting, educational documentary. Thank you for all the effort put into it!

[@UbermanNullist]

In 1997, the IMF's rescue package for Korea was harsher than the 2008 financial crisis. anyway Koreans survived the pain. When the crisis hit the US and Europe in 2008, their rescue package was so kind. It's unfair, but the only way to overcome it is to work hard. These days Europeans complain that Koreans work hard like slaves. but we just know the reality well.

[@susukumutajapan7194]

finally!! There's a documentary about Asian Financial Crisis. I'm curious about what happened and it's been a long time I'm looking for a documentary about it

[@anselmofigueira9643]

The best finacial documentary I have ever seen. Thank you all the production team and DW by their commitiment with the true.