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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Bill Murphy who wrote (6141)6/12/1999 7:25:00 PM
From: Hawkmoon  Read Replies (1) of 81019
 
I was asked not to play this up. You know how this source stuff is. Perplexes me why it has to be so hush hush. All I really know is that it was in Macao and recent and what else I said in the post.

Utterly ridiculous Bill. There is no way you will find the Bankers of China and Taiwan attending the same meeting.

Taiwan's not even invited to attend APEC Y2K meetings and I know that a certain US official created a slight international Faux Pas by sending out a cable to China that indicated Taiwan would be present. There was an embarrassing furor raised that went all the way to the White House and Bejing. All over a simple meeting in which Taiwan has an integral role to play.

As for a Asian monetary union.... Yes, there have been discussions of creating one. Most of that talk was spurred by the financial collapses of Malaysia and Indonesia which they blamed on money speculators alledgedly terrorizing their currencies.

But the problem is that there isn't an appropriate vehicle out there for an Asian currency. The Yen can be the reserve currency as they are faced with devaluing it in order to spur the economic demand required to escape the liquidity trap they find themselves in.

But it goes beyond forming a joint currency. They have talked about the eventuality of forming an Asian economic bloc, APEC being its defacto model, to compete with the EU and NAFTA.

Lemmee tell ya Bill. If their ability to manage Y2K and Ecommerce issues are any guide, it will be DECADES before they get their act together enough to form a single currency.

It will happen only has the result of another major economic crisis.

Regards,

Ron
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