{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: WORRYING SIGNS OF MORE ECONOMIC TURMOIL IN ASIA' data-url='/boclips/videos/5c54c009d8eafeecae147b44' data-video-url='/boclips/videos/5c54c009d8eafeecae147b44' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: WORRYING SIGNS OF MORE ECONOMIC TURMOIL IN ASIA\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/NatThere are worrying signs of more economic turmoil in Asia.U-S President Clinton and Pacific Rim leaders are working on a credible plan to accomplish what is becoming the biggest, most complicated financial bailout in...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eThere are worrying signs of more economic turmoil in Asia.\u003cbr/\u003eU-S President Clinton and Pacific Rim leaders are working on a credible plan to accomplish what is becoming the biggest, most complicated financial bailout in history.\u003cbr/\u003eFinancial experts say the fall of Yamaichi-- a Japanese securities firm-- and South Korea's call for I-M-F intervention are both examples of what's to come in Asia.\u003cbr/\u003eBehind this gleaming facade one office was gloomy on Monday, the New York branch of Yamaichi.\u003cbr/\u003eIn Tokyo, giant brokerage firm Yamaichi Securities announced it was being forced to close under a staggering 24 (b) billion dollar debt.\u003cbr/\u003eIt was the largest Japanese corporation to collapse since the end of World War II and came less than a week after Japan's tenth largest bank failed. \u003cbr/\u003eThese events have had an effect on markets around the world-- including the New York Stock Exchange.  \u003cbr/\u003eAnalysts say there will be a global reaction.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"As a cumulative effect, as more problems arise, it will have a major effect on the world's markets, particularly the U.S markets. Much of our treasury market has been exported to the Japanese market, they have been the buyers of our treasury bonds. If they have to bail out some of the brokerage firms, or banks, there will be a selling in the United States of our treasury markets which would cause our rates to go higher.\"\u003cbr/\u003eSUPER CAPTION: Barry Hayman, Senior Financial Analyst, Ehrenkrantz King Nassbaum, Inc.\u003cbr/\u003eA reaction which they believe could harm U-S markets as well.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"That hurts our markets, and since we are the leading markets in the world right now, the U.S market, any problems in our markets will have a dramatic impact on the rest of the markets, because the rest of the world is looking at our markets as a saviour right now, with all the problems in the Asian markets and the Latin American, and now in Korea.\"\u003cbr/\u003eSUPER CAPTION: Barry Hayman, Senior Financial Analyst, Ehrenkrantz King Nassbaum, Inc.\u003cbr/\u003eThe Japan Economic Institute is a Washington D-C-based think tank.\u003cbr/\u003eThe group's president told A-P-T-V the fall of Yamaichi illustrated some of the fundamental problems of Asian markets.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"So the market has not had the information to value assets, it hasn't had the ability to price assets and we haven't had the information to do well and I think this is showing up with Korea, it is showing up with Indonesia, it is showing up in Japan, the importance of markets, the importance of information, the importance of legality here, of making sure that things are done in a legal way. And the corrosive effect of government intervention that leads to corruption, that leads to corruption, it leads to investments that are not made on market principals and eventually it leads to the house of cards collapsing. I think, for me that is one of the major lesson concerned here.\"\u003cbr/\u003eSUPER CAPTION: Arthur Alexander, President of Japan Economic Institute\u003cbr/\u003eDespite the tense situation in Asia, the Governor of South Korea's Central Bank predicted his country would rebound in two years or less. \u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"Nowadays, the Korean economy faces a very difficult situation but there is every reason to expect it to recover its dynamism within one or two years at most, if you gentlemen are our friends as before.\"\u003cbr/\u003eSUPER CAPTION: Kyung Shik Lee, Governor, The Bank of Korea\u003cbr/\u003ePlans for an international bailout of South Korea's troubled economy failed to break the market's fall Monday.\u003cbr/\u003eWhile Seoul's request for a 20 (b) billion dollar-plus rescue package is expected to help ease South Korea's financial crisis, investors fear it could force more companies into bankruptcy.\u003cbr/\u003eNew York and Washington DC, 24 November 1997\u003cbr/\u003eNew York:\u003cbr/\u003e1. Exterior of building which houses Yamaichi office \u003cbr/\u003e2. Interior of lobby\u003cbr/\u003e3. Wide shot of door to office\u003cbr/\u003e4. Close shot sign on door\u003cbr/\u003e5. SOUNDBITE: (English)  Barry Hayman, Senior Financial Analyst, Ehrenkrantz King Nassbaum, Inc.\u003cbr/\u003e6. Cutaway of hands \u003cbr/\u003e7. SOUNDBITE: (English) Barry Hayman, Senior Financial Analyst, Ehrenkrantz King Nassbaum, Inc.\u003cbr/\u003e8. Cutaway of monitor\u003cbr/\u003eWashington DC:\u003cbr/\u003e9. Set up shot of Arthur Alexander\u003cbr/\u003e7. SOUNDBITE: (English) Arthur Alexander, President of Japan Economic Institute\u003cbr/\u003eNew York:\u003cbr/\u003e8. Wide shot of presser \u003cbr/\u003e9. SOUNDBITE: (English) Kyung Shik Lee, Governor, The Bank of Korea\u003cbr/\u003e10. Various cutaways\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1997\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003ejapan, leads, korea, south korea, latin america, north america, east asia, business, markets, economy, asia, assets\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' 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