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Weaker currencies no cure for Asia’s slump

Posted on 27 February 2009

From IHT: Tumbling exports have prompted Taiwan and Thailand to push down their respective currencies, but an Asia-wide round of depreciation is unlikely because of fears it would hurt consumer spending and bring capital outflows.

Weaker currencies contributed to the region’s export-led recovery from the 1997-8 financial crisis, but analysts say the current export slump has been caused largely by collapsing demand in the West, where economies are falling deeper into recession….. Full Article: Source


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