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  1. The lesson Europe could learn from the Asian currency crisis

    Posted Feb 17th 2012, 12:00am

    ... per head for Thailand and Indonesia, again indexed to 100 in 1996, the year before the Asian crisis forced them to abandon their pegged exchange rates and devalue their currencies. Recovery ... to be a practical solution to the crisis. 'Drastic spending cuts may prove more than the public are willing to swallow,' it warned. 'In that case, a Greek default and devaluation could ...

  2. Global reserve currency proves to be a curse for the issuing country

    Posted Oct 15th 2011, 12:00am

    ... is strong, but it will go into crisis when the reserve-currency country goes into crisis. This is the current state of affairs. The four reserve-currency economies (the US, the euro zone, Britain ... of a global-reserve-currency country and the needs of the world that uses that reserve currency. Triffin predicted that the reserve-currency country would run a current-account deficit to provide the world ...

  3. Facing up to the crisis in fiat money

    Posted Apr 16th 2011, 12:00am

    ... deficits because of the two world wars, it was having a tough time maintaining sterling as the main reserve currency. By the end of the second world war, the US emerged as the dominant global ... international currency, called Bancor, that would not be related to the issue of a national reserve currency. The Triffin dilemma is the problem the issuer of the global reserve currency faces in having ...

  4. Can Asian currencies rise to global challenge?

    Posted Aug 26th 2011, 12:00am

    ... Alessandro Magnoli Bocchi Over the past two years, most currencies' exchange rates have fluctuated at an unprecedented pace. This volatility is due to two global policy responses to the 2008 crisis. First, borrowing is cheap. Investors chase opportunities but, given the fragility of global growth, withdraw their money as soon as risks rise. Excess liquidity in a frail ...

  5. 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 ...

  6. Beijing warns of 'trade war' over US currency bill

    Posted Oct 05th 2011, 12:00am

    ... for its currency policies. US lawmakers have accused Beijing of manipulating the value of the yuan to keep it artificially low in order to boost exports. In a rare move, the central bank, ... at forcing Beijing to let its currency float freely, and accused Washington of politicising global currency issues. The US Senate voted on Monday to allow a debate on the bill, which would force ...

  7. Super-currency proposal seen as good in long run

    Posted Mar 25th 2009, 12:00am by Staff Reporter

    ... Zhang said the current global financial crisis had, to a great extent, stemmed from an international currency regime that was based on the dominance of the US dollar. 'When Washington only ... Woods Lee and Adam Chen in Beijing China's proposal to use International Monetary Fund special drawing rights (SDRs) as a super-sovereign reserve currency is a sound concept ...

  8. The dangers of a new global reserve currency

    Posted Apr 02nd 2009, 12:00am by James Dorn

    ... James Dorn A key topic at the G20 meeting is sure to be the future of the dollar as an international reserve currency. The global financial crisis, which started with the US subprime crisis, has eroded confidence in the dollar as an anchor for international payments. Moreover, large US fiscal deficits could add more than US$10 trillion to US government debt over the next ...

  9. History shows currency devaluation may not be a calamity

    Posted Sep 20th 2010, 12:00am by Michael Pettis

    ... is the only way to protect domestic and monetary fiscal credibility. By leaving the euro and devaluing their national currencies, they claim, the afflicted European economies will simply condemn ... wreaked havoc on the monetary arrangements of the pre-war years, France struggled over the issue of what to do with its currency. Like most belligerents France went off gold during the war. ...

  10. Calls for Asian currency union courting a truly Titanic disaster

    Posted Dec 16th 2010, 12:00am by Tom Holland

    ... at Asia's supranational organisations. Last week, with the euro zone's crisis of confidence raging unabated, the Asian Development Bank called on regional governments to move towards a regional ... or Unescap, said regional economies should consider managing their exchange rates against a common basket of reserve currencies. Unescap says Asia needs 'a currency management system which ...




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