How the IMF Destroyed East Asia: Over 20 Million Poor Overnight

Описание: The 1997 Asian Financial Crisis wasn’t a natural disaster — it was engineered.

In this video, we break down how IMF intervention during the Asian Financial Crisis pushed more than 20 million people into poverty, collapsed entire economies, and permanently reshaped East Asia’s financial system.

When Thailand’s currency collapsed in July 1997, global capital fled overnight. Indonesia, South Korea, Malaysia, and the Philippines followed. What came next was the largest IMF bailout in history — and a set of austerity policies that many economists now say made the crisis far worse.

We examine:

How short-term dollar debt and currency pegs created financial time bombs

Why IMF-mandated austerity deepened recessions instead of fixing them

How interest rate hikes and bank closures triggered mass unemployment

Why Western banks were protected while ordinary people paid the price

How 20+ million people were pushed into poverty almost overnight

Why Malaysia rejected the IMF — and recovered anyway

What the Asian Financial Crisis teaches us about modern global finance

Using verified data, historical accounts, and expert criticism from economists like Joseph Stiglitz and Jeffrey Sachs, this video explains why the IMF’s “cure” nearly destroyed East Asia’s middle class — and why similar patterns keep repeating today.

From Thailand’s baht collapse to Indonesia’s riots, South Korea’s unemployment surge, and the long-term consequences still felt across emerging markets, this is the story of how global finance works when crises hit — and who really pays.

If you’re interested in:
Thailand Financial Crisis
South Korea Financial Crisis
currency war
macroeconomic collapse
Indonesia crisis
Malaysia Crisis
Phillipines

IMF history

Global financial crises

Economic collapse and recovery

How international institutions shape countries

The hidden mechanics of the global economy

…this video is for you.