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  1. 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 ...

  2. 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 ...

  3. 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 ...

  4. BRICs' currency move sensible strategic goal

    Posted Apr 17th 2010, 12:00am by Staff Reporter

    ... currencies in bilateral trade and investment to cut dependency on the greenback. They are doing so not to challenge the US, but to protect their own interests because of mounting US debts ... yesterday, highlighted the need to restructure the global financial system and to give a greater say to emerging economies. The issue of bilateral trade currencies was not included in the official ...

  5. More evil implications for Hong Kong's currency peg

    Posted Sep 22nd 2009, 12:00am by Tom Holland

    ... episodes of dollar strength to cut its holdings of dollar-denominated assets. To other holders of the US currency, this amounts to an Armageddon scenario. Before last year's financial crisis ... regularity, but any indication that investors' faith in the greenback is crumbling concerns Hong Kong intimately. With our own currency pegged to the dollar at a fixed exchange rate, our ...

  6. 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. ...

  7. An important step towards becoming a global currency

    Posted Jan 05th 2009, 12:00am by Staff Reporter

    ... Adam Chen in Beijing Beijing's decision to allow the yuan to be used as a limited trading currency could spell bad news for the US dollar. More than a week ago, the State Council said ... to be announced. Companies in Guangxi and Yunnan will also be able to use the currency to settle the so-called tangible trade with their counterparts in the 10-member Association of Southeast Asian ...

  8. 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 ...

  9. Hong Kong SAR's Monetary and Exchange Rate Challenges

    Posted Mar 15th 2009, 12:00am by Sean Kennedy

    ... So far currency boards have not been in the spotlight - probably because the current crisis has yet to push Asian currencies to the brink of collapse. Hong Kong is weathering the storm better ... As Warren Buffett observed: 'It's only when the tide goes out that you realise who's been swimming naked.' It was only the onset of the Asian currency crisis that revealed Hong ...

  10. Focus back on currencies after stock turmoil

    Posted Feb 28th 2010, 12:00am by Amanda Lee

    ... dollar, according to Calyon. One currency that is not going to be attractive this year is the euro, as Greece's fiscal crisis remains a major concern, as do Portugal and Spain. Market ... Amanda Lee This year, currency investment is back in favour after last year's stock market turmoil. Central banks are also widely expected to raise rates, further fuelling activity. ...




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