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  1. IMF eases stance on currency peg in HK

    Posted Jul 25th 2003, 12:00am by Staff Reporter

    ... Kong's currency peg to the US dollar in the light of changed economic circumstances. Increased international competition and a global economic downturn have led the fund, historically a strong supporter of the fixed exchange rate system, to conclude that a new approach to currency management is warranted. The IMF's view of the peg has changed due to the 'cyclical and structural ...

  2. Institution's stale notes have no currency

    Posted Nov 12th 2003, 12:00am by Jake Van Der Kamp

    ... the market establish the currency's exchange rate. But if it wants to control both it is asking for eventual trouble, the sort of trouble that led to the financial crisis in 1997. This column ... Jake van der Kamp jakeva@scmp.com THE ASIAN DEVELOPMENT Bank has just published a big study on currency co-operation in Asia, one that tells me it is time for Hong Kong to distance itself ...

  3. The bizarre world of East Asian currencies

    Posted Sep 08th 2003, 12:00am by Philip Bowring

    ... East Asian governments and central bankers are again exhibiting head-in-the-sand postures towards currency values. In the mid-1990s, refusal to float or devalue in time was a major cause of the Asian financial crisis. This time, the posture could create a crisis in global trade relations. The imbalance between East Asia and the US has reached grotesque proportions. Inappropriate ...

  4. Asia's cash hoarders show crisis mindset

    Posted Oct 29th 2003, 12:00am by Jake Van Der Kamp

    ... their currencies, which had generally been rigged at artificially strong levels. That attempt inevitably failed, of course, and the result was the Asian financial crisis of 1997-98. Now they are doing ... a doubling in five years. You could ordinarily expect this in the fallout of the 1997/98 crisis. In currency crises you tend to see domestic investment decline and the income from the current account ...

  5. Sell-off peril for Asia-currency bonds

    Posted Nov 14th 2003, 12:00am by Staff Reporter

    ... Bei Hu The risk premiums in six regional economies, except HK, are deeper in negative territory than US government debts The low yields of long-term local-currency bonds underestimate most Asian economies' future growth and inflation and risk triggering a bond sell-off, a Deutsche Bank analyst has warned. However, Asian countries' sizeable foreign-currency reserves could ...

  6. Revaluation push gains currency

    Posted Sep 24th 2003, 12:00am by Staff Reporter

    ... Monday's sharp fall in Asian stock prices in response to calls for Asian economies to revalue their currencies highlights the region's dependence on external trade. Asian central banks have long intervened to manage currency appreciation pressure stemming from a development model that has relied on exporting at all costs. It has been a bargain for which developed ...

  7. Economists back mainland policy on currency peg

    Posted Jul 18th 2003, 12:00am by Staff Reporter

    ... and the Senate, he accused China of 'suppressing' the currency. 'They cannot do it indefinitely,' Mr Greenspan said, adding that buying US dollars eventually 'will create ... But is China's peg really a problem for American business? Most economists think not. The consensus is that the peg has created an island of currency stability in Asia. Further, China has been falsely ...

  8. Exposing the myths

    Posted Nov 17th 2003, 12:00am by William Overholt

    ... kept its currency overvalued during and immediately after the Asian financial crisis, when its competitors devalued by huge amounts (for example, Thailand and the Philippines by 50 per cent), ... William Overholt An international obsession with the Chinese currency appears to be deflating. This passion began with Japanese accusations that China's undervalued currency ...

  9. Goodbye to a year of crisis

    Posted Dec 29th 2003, 12:00am by Laurence Brahm

    ... of fire. Within days of officially assuming power in March, President Hu Jintao and Premier Wen Jiabao faced one crisis after another, domestic as well as international. The first crisis began when ... technology by the military. Iraq presented the new leadership with its first diplomatic crisis, which it skated over with remarkable aplomb. Tugged both ways by the North Atlantic split, China's ...

  10. America's hidden agenda?

    Posted Sep 13th 2003, 12:00am by Laurence Brahm

    ... investors' have created unprecedented international market exposure. Certainly, there is a fear that a currency appreciation would be followed by capital outflow, sparking another financial crisis ... visit to Beijing on September 2, China's official media warned that currency adjustment was not on the cards this year. Given the delicateness of American relations, Premier Wen Jiabao, ...




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