亞洲金融危機
1997 Asian financial crisis

context: zh_tw: 1989 年，亞洲吸引將近一半的向發展中國家的資本淨流入。南亞經濟體，以提高利率，尤其吸引追逐高回報率的外國投資者。因此，這個區域流入巨大的資金，經歷劇烈的資產價格上漲。與此同時，泰國、馬來西亞、印度尼西亞、新加坡和韓國經濟在 20 世紀 80 年代末、90 年代初經歷 8%-12% 的高 GDP 增長。這被稱為 “亞洲經濟奇蹟”。
en: Foreign debt-to-GDP ratios rose from 100% to 167% in the four large Association of Southeast Asian Nations (ASEAN) economies in 1993–96, then shot up beyond 180% during the worst of the crisis. In South Korea, the ratios rose from 13% to 21% and then as high as 40%, while the other northern newly industrialized countries fared much better. Only in Thailand and South Korea did debt service-to-exports ratios rise.Although most of the governments of Asia had seemingly sound fiscal policies, the International Monetary Fund (IMF) stepped in to initiate a $40 billion program to stabilize the currencies of South Korea, Thailand, and Indonesia, economies particularly hard hit by the crisis. The efforts to stem a global economic crisis did little to stabilize the domestic situation in Indonesia, however. After 30 years in power, Indonesian President Suharto was forced to step down on 21 May 1998 in the wake of widespread rioting that followed sharp price increases caused by a drastic devaluation of the rupiah. The effects of the crisis lingered through 1998. In 1998, growth in the Philippines dropped to virtually zero. Only Singapore and Taiwan proved relatively insulated from the shock, but both suffered serious hits in passing, the former due to its size and geographical location between Malaysia and Indonesia. By 1999, however, analysts saw signs that the economies of Asia were beginning to recover. After the crisis, economies in the region worked toward financial stability and better financial supervision.Until 1999, Asia attracted almost half of the total capital inflow into developing countries. The economies of Southeast Asia in particular maintained high interest rates attractive to foreign investors looking for a high rate of return. As a result, the region's economies received a large inflow of money and experienced a dramatic run-up in asset prices. At the same time, the regional economies of Thailand, Malaysia, Indonesia, Singapore and South Korea experienced high growth rates, of 8–12% GDP, in the late 1980s and early 1990s. This achievement was widely acclaimed by financial institutions including IMF and World Bank, and was known as part of the "Asian economic miracle".
qas: question: zh_tw: 經濟體獲得了什麼？
en: What did the economies receive?
answers: zh_tw: text: 流入巨大的資金
en: text: a large inflow of money

context: zh_tw: 泰國、南韓和印尼是受金融風暴影響最嚴重的國家，資產泡沫消失後由於國家接近破產狀態，沒有能力還清債務，亟需需要國際支援。寮國、馬來西亞和菲律賓也受到波及。而中國大陸、香港、新加坡、臺灣雖有影響，但受影響程度相對較輕。日本則處在泡沫經濟崩潰後自身的長期經濟困境中，投資能力大減，受到此金融風暴的影響並不大。
en: The crisis started in Thailand (known in Thailand as the Tom Yum Goong crisis; Thai: วิกฤตต้มยำกุ้ง) with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Capital flight ensued, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. As the crisis spread, most of Southeast Asia and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt.Indonesia, South Korea, and Thailand were the countries most affected by the crisis. Hong Kong, Laos, Malaysia and the Philippines were also hurt by the slump. Brunei, China, Singapore, Taiwan, and Vietnam were less affected, although all suffered from a loss of demand and confidence throughout the region. Japan was also affected, though less significantly.
qas: question: zh_tw: 哪些國家 / 地區沒有受到嚴重影響？
en: Which countries were not badly affected?
answers: zh_tw: text: 中國大陸、香港、新加坡、臺灣
en: text: Brunei, China, Singapore, Taiwan, and Vietnam