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Economy of Asia
Blog About Me Links. Another section of interest in the report is Sovereign Wealth Funds , to wit: Buoyant reserve accumulation by countries in the region is adding to the stock of capital for existing wealth funds.
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Asian currencies were strong, reflecting larger-than-expected current account surpluses and capital flows, including those for speculative purposes. The large increase in reserves points to continuing efforts to push down the region's currencies by official intervention.
Thailand Economic Monitor Reports
Current account balances deteriorated across the region in , mainly a result of rising oil imports. Strong exports in many countries offset some of the effects of rising oil prices. Oil prices hit a record high in the middle of , while stock markets plummeted across the Asia-Pacific region, raising fears of a downturn.
The sharp appreciation of major currencies in the region against the United States dollar made it difficult to keep exchange rates competitive while addressing inflationary pressure. The suspension of the Doha Development Round in July did not bode well for a region driven by trade and ready to gain from further liberalization.
Despite high and volatile oil prices in , developing economies in the Asia-Pacific region kept inflation under control at 4.