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The First Modern Financial Crisis in the Globalized World
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The First Modern Financial Crisis in the Globalized World

42 MIN · EN · STATUS: [ STREAMING ]
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The Asian financial crisis of the late 1990s hit economies that had spent a decade posting some of the fastest growth rates in the world, and it hit without warning. This film tracks how currency speculation and capital flight tore through Thailand, Indonesia, and South Korea, turning boom economies into scenes of mass unemployment, hunger, and street uprisings within months. Economists and policymakers who lived through the crisis explain why the standard playbook of the era, tightening budgets and raising interest rates, made things worse rather than better in the short run. The film then jumps forward a decade to the 2008 Global Financial Crisis and asks whether the two collapses share a common root: a financial system built to generate exactly this kind of shock. World-renowned economists debate the question on camera without settling it, and the film treats that lack of resolution as the real finding. It closes on the uncomfortable suggestion that the conditions for another such crisis have never actually gone away.