Question: 1. What were the origins of the Asian currency crisis?

2. What role did expectations play in the Asian currency crisis?

3. How did the appreciation of the U.S. dollar and depreciation of the yuan affect the timing and magnitude of the Asian currency crisis?

4. What is moral hazard and how did it help cause the Asian currency crisis?

5. Why did so many East Asian companies and banks borrow dollars, yen, and Deutsche marks instead of their local currencies to finance their operations? What risks were they exposing themselves to?