It isn't QE2 that's flooding Asia with …

See also: East Asia's Exchange-Rate Disparities One piece of received wisdom, accepted also in the ADB report, is that developing Asia has been the none-too-welcome recipient of a flood of money created by US quantitative easing and similar policies in other developed countries. This is said to have pushed up their currencies and asset prices, justifying restrictions on capital inflows through new regulations and tax measures.

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