11.05.2009 - Exchange reserve to boost Asian confidence
From Xinhua: Asian nations recently reached an initial agreement on the establishment of a foreign-exchange reserve pool by year-end to revive investor confidence as economies around the region falter amid the worst global economic recession since World War II. Japan, Asia's largest economy, will contribute $38.4 billion, 32 percent of the total reserve while the Chinese mainland and Hong Kong together will add a matching amount. South Korea's share will be $19.2 billion, or 16 percent.......Full Article: Source