Economics/Business

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Thai Junta Stumbles on the Baht

Thai stocks crashed Tuesday after the central bank imposed the harshest capital controls since the 1997 financial crisis in an effort to weaken the surging baht, prompting the government to quickly reverse co...
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Indonesia, Malaysia push a biofuels cartel

Just as the administration of US President George W Bush is being urged by a group of leading US business executives and senior military officers to act decisively to break America’s dependence on o...
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Mr Paulson Goes to China

It is a measure of the shock and awe with which the US currently views China that six members of President George W Bush’s cabinet plus Federal Reserve Chairman Ben Bernanke are in Beijing this week. ...
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Psst. Want a Western University Degree Without Studying?

The time-honored practice of awarding university degrees for money is alive and well in Cambodia. After being turfed out of Malaysia for being neither Irish nor a university, the Internet-based Irish Intern...
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Fleecing Asia’s Homebuyers

The traditional Chinese adage, “Wealth comes from land” has never been as important to many ethnic Chinese around the world as today when growing consumer wealth enables a new class of people to...
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Enduring Mystery Surrounds a Hong Kong Tower Block

Hong Kong may have an iconic skyline and a spectacular if rapidly diminishing harbor. But it has torn down enough of its distinguished old buildings to make IM Pei’s externally dramatic Bank of China ...
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Time of Trial for Hong Kong’s US Dollar Peg

The time is coming before too long when the world’s highest paid central banker, Hong Kong’s Joseph Yam, may have to do rather more to justify his salary. Being the head of the HK Monetary ...
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The Devil and the Dollar

The dollar fell 2% against the yen last week and is at a 19-month low against the euro and appears set to go lower. Several Asian currencies, even including the Philippine peso, are at their best levels sin...
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The Rising Dragon’s Environmental Disaster

Reprinted by arrangement with the National Geographic Society from the book Dragon Rising: An Inside Look at China Today By Jasper Becker. Copyright 2006 Jasper Becker. So far it is China’s se...
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Lenovo’s Long March

So far as the outside world was concerned, Hong Kong-listed Lenovo (previously Legend, and referred to in this book by its Chinese name of Lianxiang) came almost from nowhere in 2004 to buy IBM’s mone...