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Cooling Off the Hot Money
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Cooling Off the Hot Money

Philip Bowring's avatar
Philip Bowring
Jun 18, 2010
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Cooling Off the Hot Money
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Continuing turmoil in western financial markets is having one positive effect – it is encouraging East Asian cooperation. The past week has seen moves by two governments, South Korea and Indonesia, to limit currency flows and hence, they hope, volatility.

In the Korean case, the move followed a sharp drop in the value of the won stemming from speculative…

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