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  • September 19, 2014
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  1. 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 ...

  2. Hong Kong well served by currency board despite Argentina's woes

    Posted May 17th 2005, 12:00am by Jake Van Der Kamp

    ... Jake van der Kamp WHY IS IT that discussions on the subject of currency board systems in international journals mostly refer to Argentina's calamitous experience with one and then lament that they cannot last? Why do so few of them suggest that the problem with Argentina's experience of a currency board may have been Argentina and not the currency board? Perhaps ...

  3. Ignore the hawks- capital controls beat currency chaos

    Posted Aug 16th 2005, 12:00am by Tom Holland

    ... to prop up the currency. But even Beijing's US$700 million in foreign reserves would not help much in a fully fledged crisis of confidence. And, of course, if China intervened to buy yuan ... of just 2.25 per cent. Converted into US dollars, that money could earn 3.75 per cent at Citibank in New York or 4.32 per cent in US Treasury bonds. Other currencies offer even higher returns. ...

  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. HKMA chief pledges to stick with dollar peg

    Posted Apr 04th 2008, 12:00am by Enoch Yiu

    ... against all currencies would cause Hong Kong domestic prices to increase by 0.82 per cent in the short run and 1.61 per cent in the medium run, he said in his column on the HKMA website. ... in the report. Since the Hong Kong dollar had fallen along with the US dollar against the yuan and other currencies such as the yen, euro and pound, import prices had risen, he said. To solve ...

  6. New two-way risk dents enthusiasm for the yuan

    Posted Jun 01st 2012, 12:00am

    ... exchange rates are relative prices: the price of one currency expressed in terms of another. When everyone is convinced that a particular currency is a screaming buy, they often forget to consider the other currency in the pair. We saw this tendency at work towards the end of last year, when everyone was so bullish on the Chinese currency's prospects, they sold Hong Kong and US dollars ...

  7. Yuan acceleration calls rejected

    Posted Mar 13th 2012, 12:00am

    ... Cary Huang in Beijing cary.huang@scmp.com The head of China's central bank said the yuan was getting closer to its fair value against foreign currencies, rejecting international calls for the country to accelerate the appreciation of its currency. Zhou Xiaochuan, governor of the People's Bank of China, also dismissed suggestions that the currency would 'stop ...

  8. Strong yuan sets off alarm on payments gap

    Posted Mar 18th 2008, 12:00am by Denise Tsang

    ... China's international balance of payments were increasingly difficult as the United States credit market crisis spread and inflation continued to bite, the State Administration of Foreign Exchange ... currency's rise of about 17 per cent since its revaluation in 2005 or 3 per cent since January. The yuan's exchange rate jumped to a record of 7.08 against the dollar yesterday. ...

  9. The ideal union eludes Europe, 10 years on

    Posted Jan 06th 2012, 12:00am

    ... A single currency was the most dramatic step taken towards what surely one day will be a single political entity. War, time and time again, has interrupted the pursuit of that objective. Continued ... that make a single currency possible today and political union a tangible, if still hotly debated, goal tomorrow. The fact is that through changing fashions, through wars big and small, the idea ...

  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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