Figurative a weakening of Far Eastern economies, specifically the economic crisis beginning in late 1997 which adversely affected the East Asian ‘tiger’ economies (and, in 1998, the Japanese economy); (hence) the resultant global economic insecurity;.
Origin
1990s; earliest use found in Business Week.
Definition of Asian flu in US English:
Asian flu
noun
Figurative a weakening of Far Eastern economies, specifically the economic crisis beginning in late 1997 which adversely affected the East Asian ‘tiger’ economies (and, in 1998, the Japanese economy); (hence) the resultant global economic insecurity;.