Wednesday, March 29, 2006

'Asia must prepare for dollar collapse'

Tuesday 28 March 2006

East Asian economies need to prepare for a possible collapse of the US dollar, the Asian Development Bank says.

The warning comes as the US trade deficit reaches a record high and global interest rates continue to rise.

..."Our suggestion to Asian countries is: Don't take this continuous financing of the US current account deficit as given. If something happens then East Asian economies have to be prepared."

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