Best business reporting from abroad in newspapers or wire services
AWARD YEAR: 1997
AWARD NAME: The Malcom Forbes Award 1997
RECIPIENT: The Wall Street Journal Team
AFFILIATION: The Wall Street Journal
HONORED WORK: “The Asia Shock: The Economic Crisis That’s Jolting the World”
The Journal’s coverage of Asia’s economic meltdown was by far the most prescient, enterprising, and comprehensive of this year’s entries. In July, 1996—one full year before Thailand devalued its currency—the paper reported that Thailand’s economy was headed for trouble. Then in January, more than 10 months before Korea’s economic collapse, it warned of that impending crisis. With reporters chiming in from Asia, Europe, Latin America, and the U.S., the Journal supplied a broad, richly detailed history of the turmoil in all its complexity. The reporting was authoritative, the writing superb, and the explanations of the causes and consequences easy to grasp.
Citation for Excellence:
Sandra Sugawara
The Washington Post
“The Asian Economic Crisis”