The massive depreciation of many Asian currencies in the 1997 to 1999 period, known as the Asian financial crisis, is also an instance of the influence of these short-term movements of money.

all I can say is the Asian financial crisis in 1997

The Asian financial crisis in 1997, followed by the terrorist attacks on the United States in 2001 and Argentina's financial crisis that worsened in 2002, sent the world economy into a global slowdown.

The Asian financial decrease in 1998 was due to financial contagion, It raised fears of an world wide economic crash in 1997.The crisis started in Thailand.

In the late 1990s, imports of low-priced steel plagued U.S. producers, especially following the Asian financial crisis that began in 1997.