Strength from swaps
Asian nations are becoming increasingly assertive in co-ordinating financial stability efforts in the Asia Pacific, notably via a raft of new swap agreements between the region's largest economies. Are these efforts having the desired impact? Christopher Jeffery reports
The global financial crisis has had a marked negative impact on a number of Asian economies. This is particularly the case in South Korea, where domestic banks and the branches of foreign banks have struggled to meet their short-term US dollar funding needs. It's also been the case in Indonesia, whose high fiscal deficit has undermined the country's financial status and banks have faced difficulty
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