Question: In late 1997, the IMF stepped in with a rescue package that included $55 billion in emergency loans to support the currency. These loans had

In late 1997, the IMF stepped in with a rescue package that included $55 billion in emergency loans to support the currency. These loans had the effect of stabilizing the won and over the next few years South Korea enjoyed a strong recovery. If the IMF had not stepped in, what might have occurred?

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