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The first wave was caused by massive foreign capital outflows and collapsing currencies, as investors around the world woke up to the fact that several Southeast Asian countries had borrowed more foreign capital than they could readily repay.
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This they readily do, using toll revenues to repay construction loans provided by state-owned banks (the banks happily roll over debts that are not repaid on time).
It was Obama's secretary of the Treasury, after all, who readily allowed many of the biggest banks to repay the money they had taken from the Treasury earlier than anyone had anticipated.
If postsecondary education is seen as a long-term investment it is not meaningful to call it "unaffordable," regardless of the size of net tuition and fees, if loans are readily available to pay the relevant costs and if it is likely that the future earnings premium will be adequate to repay the loans.
We cannot repay it.
Zhenfu cannot repay its debts.
Time to repay such kindness.
Greece will never repay its debts.
Have you had to repay the credit?
"I'll never be able to repay him".
This version will repay re-watching.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com