Social Influences of the South East Asia Financial Crisis on China

The financial crisis, originating from Thailand in July 1997, has imposed a number of negative influences on the economic and social developments of China. Nobody expected that the crisis could last so long and have such detrimental effects on the world economy. The influence of the Asia crisis on China was also beyond an average person's expectations. It was mainly concentrated on China's balance of payments, and, through this, the damaging effect was diffused to other economic and social aspects.