Maxus-MIFA9 Supersonic February 10, 2014 Share February 10, 2014 Not many notices but 2014 share the same dates & days with 1997 ... Will history repeats itselfs ... Happening in 1997 Asian financial crisis, 1997-1998 The Asian financial crisis started in Thailand with the collapse of the Thai baht in July 1997 and quickly spread to the rest of the region. What began as a currency crisis soon affected the wider economy and led to economic downturns in several countries. Singapore was not directly hit but suffered the spillover effects of the economic slowdown among its regional neighbours and fell into recession in the second half of 1998. Realising that stimulating domestic demand was not a viable option in a downturn caused by external circumstances, the Singapore government implemented various measures to help ease the cost burden on businesses and individuals. Just before the Thai baht collapsed in July 1997, it had been the target of intense speculative attacks. For a while, the Thai government managed to defend the currency, which had been pegged to the United States (US) dollar. However on 2 July 1997, it announced that it would no longer intervene and would allow the baht to float. The sharp depreciation of the baht against the US dollar began that same day. Given its close economic linkages with other Asian countries, Singapore could not escape the effects of the financial crisis facing its regional neighbours despite strong economic fundamentals. Overall, the Singapore economy contracted by 1.4% in 1998 in terms of real gross domestic product (GDP). This was the first decline in real GDP since the 1985 recession and came after an average growth of 14% per annum from 1986 to 1997. The impact on Singapore was indirect but wide-ranging.Many companies went out of business, leaving their workers without a job. To survive, other companies cut cost by retrenching staff, suspending new recruitment and reducing wages. In the last quarter of 1997, 4,280 workers were retrenched, more than three times higher compared to the previous quarter. The situation worsened in 1998, with quarterly retrenchments averaging about 7,300. Company closures and downsizing also translated into lower demand for commercial, industrial and residential properties, which put downward pressure on property prices and rentals. Stock prices fell and this had a negative wealth effect which further weakened consumer sentiment. for more of the report, link : http://infopedia.nl.sg/articles/SIP_1530_2009-06-09.html It all started from Thailand and now Thailand Gov is unstable with peoples still camping outside Gov buildings. Hope this will not repeat again in 2014 .... ↡ Advertisement Link to post Share on other sites More sharing options...
Adrianli Hypersonic February 10, 2014 Share February 10, 2014 Hope this will not repeat again in 2014 .... I also hope not repeat BMT again!!! I think I will die if go back to BMT again. Link to post Share on other sites More sharing options...
Wt_know Supersonic February 10, 2014 Share February 10, 2014 (edited) just take note whether this guy got new drama coming in 2014 ... the most choon bear market sign Edited February 10, 2014 by Wt_know 3 Link to post Share on other sites More sharing options...
Vid Hypersonic February 10, 2014 Share February 10, 2014 The signs are there. Whether it will pop or not, let's wait and see Link to post Share on other sites More sharing options...
Super7 Turbocharged February 10, 2014 Share February 10, 2014 The signs are there. Whether it will pop or not, let's wait and see I remember 10 Feb 1997 4pm I dozed off in front of my pc, I think this going to repeattttttttttttttttttttttttt 2 Link to post Share on other sites More sharing options...
Kangadrool Supersonic February 10, 2014 Share February 10, 2014 What goes up, must come down. What comes down, may go up. Link to post Share on other sites More sharing options...
Maxus-MIFA9 Supersonic February 10, 2014 Author Share February 10, 2014 I remember 10 Feb 1997 4pm I dozed off in front of my pc, I think this going to repeattttttttttttttttttttttttt dozed off in front of PC or after PCC ... Link to post Share on other sites More sharing options...
Kangadrool Supersonic February 10, 2014 Share February 10, 2014 dozed off in front of PC or after PCC ... In front of PC PCC... Link to post Share on other sites More sharing options...
Super7 Turbocharged February 10, 2014 Share February 10, 2014 (edited) dozed off in front of PC or after PCC ... After pcc, more alert!!! Won't doze off, hehehe Edited February 10, 2014 by Super7 Link to post Share on other sites More sharing options...
13177 Supersonic February 10, 2014 Share February 10, 2014 Other then financial crisis in 1997, heng nothing much no good happened to me in that year. If not history repeat itself then bad liao. Link to post Share on other sites More sharing options...
Jman888 Moderator February 10, 2014 Share February 10, 2014 Not many notices but 2014 share the same dates & days with 1997 ... Will history repeats itselfs ... for those who got married in 1997, will he repeat again this year? just nice 7 years itch! Link to post Share on other sites More sharing options...
Tohto Hypersonic February 10, 2014 Share February 10, 2014 for those who got married in 1997, will he repeat again this year? just nice 7 years itch! Now is 2014, where got 7 years itch. Is 17yrs. Link to post Share on other sites More sharing options...
Vid Hypersonic February 10, 2014 Share February 10, 2014 I remember 10 Feb 1997 4pm I dozed off in front of my pc, I think this going to repeattttttttttttttttttttttttt [sweatdrop] Link to post Share on other sites More sharing options...
Evillusion Supersonic February 10, 2014 Share February 10, 2014 Now is 2014, where got 7 years itch. Is 17yrs. shhhh....dont tell him....he still thinks its 2004......hahahaha! Link to post Share on other sites More sharing options...
Jman888 Moderator February 10, 2014 Share February 10, 2014 Now is 2014, where got 7 years itch. Is 17yrs. i married for so long liao, way pass the 7 years itch! Link to post Share on other sites More sharing options...
Camrysfa Turbocharged February 10, 2014 Share February 10, 2014 I remember 10 Feb 1997 4pm I dozed off in front of my pc, I think this going to repeattttttttttttttttttttttttt Link to post Share on other sites More sharing options...
Adrianli Hypersonic February 10, 2014 Share February 10, 2014 Something big happened to one of our carriers in 1997. http://en.wikipedia.org/wiki/SilkAir_Flight_185 Link to post Share on other sites More sharing options...
Super7 Turbocharged February 10, 2014 Share February 10, 2014 LOL, this year a bit lucky, woke up before falling onto the floor. ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
10 days self drive in Hokkaido
10 days self drive in Hokkaido
2014 Corolla Altis - Technical, Features & Use
2014 Corolla Altis - Technical, Features & Use
5 days Road Trip in Malaysia - suggestions & tips?
5 days Road Trip in Malaysia - suggestions & tips?
2014 Mercedes CLA
2014 Mercedes CLA
Nissan QashQai 2014 Part 2
Nissan QashQai 2014 Part 2
Is M1 mobile network down ? 04 Feb 2014
Is M1 mobile network down ? 04 Feb 2014
SAF Day Promotions
SAF Day Promotions
2014 X-Trail
2014 X-Trail