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02 Jun 09

1997 Asian Financial Crisis - Wikipedia, the free encyclopedia

  • The crisis started in Thailand with the financial collapse of the Thai baht caused by the decision of the Thai government to float the baht, cutting its peg to the USD, after exhaustive efforts to support it in the face of a severe financial overextension that was in part real estate driven.
    • caused by the decision of the Thai government to float the baht:
      This is OF COURSE NOT the cause! What a Western Imperialist view!       - on 2009-06-01
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  • Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency.
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23 May 09

G20倫敦峰會三大連環考驗

  • 當今世界金融與經濟面對三個層次的連環問題：經濟面，以度過目前難關為主要考量；中程面，關心當前金融紀律的問題；長程面，與美元脫鹇的新國際儲備問題。國際財經新秩序特點是：不解決全部，即不可能解決個別，環環相扣。這是G20成敗的關鍵。
  • 這次的倫敦G20高峰會，實在重要無比。它和一九三三年夏天倫敦召開的「世界貨幣暨經濟會議」以及一九四四年在美國新罕布什爾州布雷頓森林會議有著同樣等級的重要性
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21 May 09

中國評論新聞：貨幣互換：積極的“點對點”互援

  • 近日，美聯儲、歐洲央行、英國央行、日本央行和瑞士央行等西方五大央行宣布了總額近3000億美元的貨幣互換協議，以改善金融市場的信貸狀況。這意味著穩定目前的金融局勢也需要各國之間進行“點對點”的相互援助。而中國最近也在積極參與貨幣互換進程，中國央行已經先後同韓國、中國香港地區、馬來西亞、白俄羅斯、印度尼西亞和阿根廷的貨幣部門簽署了貨幣互換協議簽署協議，其貨幣互換總規模達到了6500億元人民幣。
  • 所謂貨幣互換，其實就是兩個交易者根據約定的匯率（也許還附加利率）交換等值的貨幣，然後在約定期後還回各自原先持有的貨幣。例如中國跟韓國的貨幣互換協議是3年——即3年後韓國將人民幣還回中國，而中國也將韓幣還給韓國。
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China and America: Europe Should Fear G2 Rather than G20: Financial Times Deutschland | The Moderate Voice

  • he largest debtor [the U.S.] and the largest creditor [China] might not share the cultural bonds of Europe and the United States - but they are bound by something perhaps even more significant - money.
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The new world order: How China sees the world | The Economist

  • He talks of China as a “great power” and worries about America’s profligate spending endangering his $1 trillion nest egg there.
  • Incautious remarks by the new American treasury secretary about China manipulating its currency were dismissed as ridiculous
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07 Feb 09

亞洲週刊

  • 去年年初特大雪災後，中國一些經濟專家及企業家，對美國金融危機的嚴重性估計不足。還在強調防過熱時，重慶在一次學術討論活動中，了解到美國金融業的壞帳是上萬億，而非千多億，於是作出了將面臨世界性、極嚴重金融危機的判斷。
  • 近幾年一直關注重慶的周東華認為，三十年來中國拉動經濟的模式單一，上海服務的是大型企業、吸引外資銀行；廣東看重的是外向型經濟，但一場金融風暴，吹走的不僅是出口訂單，更是沿海地區的國際期待。「看到這些問題，東部地區要『轉身』都很困難。」周東華說，重慶以內需為導向，不存在轉身，「它沒有國際包袱，而是如何創新模式、快步前進的問題」。
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29 Dec 08

Niall Ferguson - The Ascent of Money

  • the chains of labour.
  • the sinews of war
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23 Nov 08

2009年春夏金融海啸第二波更猛烈 - 宋鸿兵 - 草根网

  • 明年4－9月间，还会有第二波袭来，冲击力度将甚于现在。而第二波海啸的引爆点将从目前的按揭抵押市场转向“企业债和地方政府债券”，尤其是企业债中的垃圾债。
  • 宋鸿兵的另一个疑问是，在这场危机中满眼都是输家，究竟谁在危机中赚钱了？“对冲基金和投资银行或许通过离岸基金这个‘后门’，在危机前就将利润转移走了。”美国财政部的数据也显示，2008年3至5月加勒比海地区对美机构债券进行了坚定、快速的减持，与此同时一些亚洲、中东地区的主权基金却在增持
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The Short View: Shorting ban

  • The case against the shorts rests on two key items of circumstantial evidence. First, the end of the “uptick rule”, which only allowed short selling at points when a share price had just ticked up, came on July 6 last year, just as the S&P 500 peaked.
  • Short selling is a way to hedge against a fall in the market – a conservative strategy. Many investors have suddenly been deprived of a way to hedge. There are “synthetic” ways to achieve the same result, notably using options.

Insight: Reserve judgement on the dollar

  • For many countries security considerations are paramount. It seems inconceivable that Japan, Korea, Taiwan or Saudi Arabia would wish to junk the dollar given their current security relationships with the US.
  • It then loses up to 10 per cent on the exchange rate and suffers a Chinese inflation rate of 6 per cent for a total real return in renminbi of about minus 15 per cent. That is a loss of $270bn a year, or a stunning 7-8 per cent of gross domestic product.
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15 Sep 08

Savings and loan crisis - Wikipedia, the free encyclopedia

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