WriteMyEssay.com

...in an arms build-up in recent years. Some analysts feel it was the economic crisis of 1997 that has had an impact on arms modernization in the region. This paper addresses that statement and the link between the economic crisis and arms build-up. IMPACT OF THE ECONOMY IN SOUTHEAST ASIA During the first phase of the economic crisis, it was not immediately apparent how the collapse would ultimately effect the rest of the world. For the most part, the financial crisis was not treated with a great deal of concern; rather, a good portion of foreign observation deemed it as nothing more than a "spectator event" (Parry, 1997, p. 8), looking at the fall as an "object of fascinated, but abstract, interest" (p. 8). However, attitudes quickly changed when the infection spread to South Korea and Japan, spawning great concern over the eventual effect such an economic emergency would...