Asia Ponders Its Astounding Foreign Exc…

What is Asia going to do with its money? Because of the astonishing profligacy of the western economies, primarily the United States, the region’s 11 biggest economies have amassed the biggest transfer of financial resources in the history of the world. Although most of the focus has been on China, with its US$1.5 trillion in reserves, the region as a whole holds more than double that amount, nearly US$3.9 trillion. And, by one estimate, the figure appears set to soar upward even further, to US$5.1 trillion by the end of 2009.

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