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Sunday, March 07, 2004

Currencies on the wrong path Via IHT

Asian governments are working to defy the laws of economics, which generally hold that a currency should firm along with growthFor all the good news in the Asia region - surging equities, booming growth and emerging middle classes - the area is stuck in a developing-nation mentality.It's a shame. If only Asian governments could figure out a way to put all that money to productive use in Asia, rather than shipping it to the United States.

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