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Masahiro Kawai in Wikipedia
Bond markets are deepening worldwide, but emerging East Asia is moving ahead at a faster rate.
~ Masahiro Kawai
Experience in many countries tells us that by accumulating foreign exchange reserves, eventually the monetary policy consequences could be big.
Allowing a little more currency appreciation can be quite desirable for the sake of the Chinese economy and the region as a whole. The Chinese economy is quite resilient. At the same time, foreign exchange reserves are rising fast.
Asian governments, central banks and the private sector will have to focus more on bond market development and really strengthen market infrastructure.
Perhaps a single currency may come after that.
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~ Hermann Hesse (July 02, 1877 - August 09, 1962)
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A thorough reading and understanding of the Bible is the surest path to atheism
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