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  1. Crisis memory fades as 1997 levels regained

    Posted Oct 17th 2007, 12:00am by Tom Holland

    ... It has been a long and hard road, but by the end of this year the first of emerging Asia's currencies is likely to regain its level on the eve of the regional economic crisis in June ... are also close to regaining their pre-crisis exchange rate against the US dollar. Few fell more abruptly than the Korean won. From 885 won to the dollar in late June 1997, the currency plummeted ...

  2. Ten years on, Asia's policies risk a new economic crisis

    Posted May 11th 2007, 12:00am by Tom Holland

    ... financial crisis in the region'. At first glance Asian governments appear to have successfully corrected the economic weaknesses that led to the 1997 crisis. They no longer peg their currencies ... the conditions for a second and equally damaging regional crisis. Superficially Asia's economies appear in much better shape today than they did 10 years ago on the eve of the Thai devaluation. ...

  3. An insight into the workings of Hong Kong's currency peg

    Posted Sep 10th 2007, 12:00am by Jake Van Der Kamp

    ... that the much-vaunted automatic adjustment process of their textbook currency board could not entirely be relied on in practice. They preferred to give the impression that the rate was guided towards 7.80 ... Mr Currency Board himself, who almost convinced Indonesian President Suharto to adopt one in 1997. This is a timely book. The peg may be under no special strain at the moment ...

  4. The currency trap

    Posted Jun 26th 2007, 12:00am by Laurence Brahm

    ... Laurence Brahm laurence@shambhala-ngo.org In 1997, in the midst of the Asian financial crisis, every US congressional delegation, Treasury and State Department visit to the then central ... peg positioning but, rather, of the overall move towards making the yuan a freely convertible currency traded on international exchange markets. While China's policy-makers are pretty ...

  5. Asia fails to heed key lesson of crisis

    Posted Jul 03rd 2007, 12:00am by Tom Holland

    ... Tom Holland Ten years after Thailand devalued the baht, plunging East Asia into the depths of a devastating economic crisis, the region has recovered its economic confidence. Today, ... prevent another crisis, it is important that Asia takes its responsibility,' the Thai minister said. 'We cannot have debtor nations managing the global financial system. It has ...

  6. Economic deals not good enough, say China's critics

    Posted May 25th 2007, 12:00am by Ray Cheung

    ... House press release: an eight-letter word, 'currency'.' The two-day economic summit ended on Wednesday. US Secretary Treasury Henry Paulson and Vice-Premier Wu Yi announced new ... on the appreciation of the yuan, although the People's Bank of China did increase the trading band for the currency last week. Democrat Max Baucus, the chairman of the Senate finance committee, expressed ...

  7. 'Ageing crisis' is the creation of misguided policy

    Posted Feb 26th 2007, 12:00am by Staff Reporter

    ... wealth gap', February 23). May I suggest that fears of a drain on health and social welfare services are the result of a crisis of the government's own making- in that their definition ... the Fed intervenes in the commodities and currency markets with daily injections of trillions of dollars worth of 'repros' (repurchase agreements to buy different financial products) ...

  8. Five key steps to surviving a crisis

    Posted Jul 08th 2007, 12:00am by Betty Liu

    ... survive layoffs, disease, bankruptcy, while others do not. It is, in other words, a trait crucial to helping you survive a crisis. Crisis is a loosely defined term but the one I- and perhaps any optimist- prefer is 'a decisive turning point'. In economic terms, crisis refers to a sharp downturn in a business cycle, essentially a plunge into recession. In personal terms, it's ...

  9. Agencies may have said it but that doesn't mean it's true

    Posted Aug 27th 2007, 12:00am by Jake Van Der Kamp

    ... and the reason it may do so is the same one that probably induced Bank of China to do so, namely that it is staring big currency translation losses in the face unless it chases high US dollar yields. ... bonds. These now yield about 3 per cent. But the PBC has the additional difficulty that the yuan is strengthening against the US dollar. If we assume a currency appreciation of 5 per cent a year ...

  10. Banks see strong loan growth fuel asset boost

    Posted Jan 05th 2007, 12:00am by Staff Reporter

    ... of local-currency loans in the first 11 months, already 20 per cent more than the central bank's full-year target of 2.5 trillion yuan. In November, the economic and finance committee of the National ... in the first 11 months Three trillion yuan of local-currency loans were provided Big Four continue to dominate the financial sector ...




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