Word: asia
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Dates: during 2000-2009
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...Although the rupiah could suddenly weaken against the dollar and shave off a significant chunk of a trader's profit, "If your carrying spread is wide enough, you'll comfortably take the currency risk," says Johanna Chua, chief economist with Citigroup in Asia. In fact, Chua says, the dollar carry trade has become so widespread among traders in Asia it has even triggered buying of more exotic and illiquid currencies like the Sri Lankan rupee. "That's the ultimate carry trade," Chua says...
...More important, the liquidity the dollar carry trade creates, like alcohol, can also be hazardous if taken in immoderate amounts. For instance, Citigroup's Chua says one of the reasons Asia's stock and property markets have been rallying over the last six months is because of the overabundance of short-term liquidity. "A lot of dollars are seeping into Asian economies," she says. "That's pumping up asset bubbles." When those bubbles burst, as they frequently do, there will no doubt be unpleasant messes to clean...
...recent interview with the Associated Press, Secretary of Education Arne Duncan ’86 reiterated President Obama’s belief that curtailing the length of summer breaks for public schools would be an important way to keep American students competitive with their counterparts in Europe and Asia. While shrinking summer might make fifth graders gasp in horror, it is also could be an important step in revitalizing American public schools. We hope that the Department of Education acts on the proposal but keeps in mind that, while lengthening the school year is a step forward, it should...
Throughout his remarks, Yudhoyono sought to characterize the future of international relations as one of peace and the mutual exchange of ideas. But he also drew attention to the shift in the global balance of powers away from Europe and toward Asia, whose economic growth in recent years has spurred calls for greater world recognition. Indonesia’s economy grew at a rate of over 6 percent in the past year...
...HSBC has realized home is where the heart - and the money - is. On Sept. 25, HSBC announced that its chief executive, Michael Geoghegan, will relocate his office back to Hong Kong in February, 2010. The decision is yet another sign of the growing economic influence of Asia. Calling Asia the bank's "strategically most important region," HSBC said in a statement that Geoghegan's move "further positions the Group for the shift in the world's center of economic gravity from West to East." (See 10 big recession surprises...