Asian Economic Crisis

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in the employment line. Many workers were fired, or “let go,” as they put it, because the company couldn’t afford the extra disbursements. This may have been beneficial for the companies, but not its employees and their families.
With my father, a Fire Specialist for the Guam Fire Bureau, and my mother, a financial advisor at a national bank, my family may not have been affected in the area of unemployment and retrenchment of workers. However, there are other members of other families that may have been. Because of the decrease in tourists, people who work(ed) for hotels, restaurants, and other tourism-related businesses were terminated. Those who weren’t, worked longer hours to accommodate the lack of company employees.
Besides the unemployment problem, another effect the has imposed is inflation and the phenomenon of rising prices. Merchandise and other Asian exports have risen in cost value in addition to the free fall in the value of domestic ...

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