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Friday, November 13, 1998 Published at 16:01 GMT Special Report The downward spiral of the Asian tigers The financial crisis in Asia has continued to deepen - economics correspondent James Morgan explains the fundamental flaws in the East Asian economies. Thailand: origin of the crisis It was the devaluation of the Thai baht in July that began a chain of currency devaluations across the Asian region last year. South Korea: economic reforms run into difficulty Investors are selling up in South Korea as it faces a crisis of confidence over its economic reforms. Underlying economic weaknesses exposed Until recently Indonesia was held up as a shining example of economic success. Economics specialist Robert Shortt charts the history of corporate collapse and declining confidence. Malaysia: attacks speculators The Malaysian ringgit started to devalue after the Thai baht came under attack from currency speculators in July 1997. At the end of the month it hit a 38 month low against the dollar. Back to top | BBC News Home | BBC Homepage ©