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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (34130)5/21/2003 6:22:06 AM
From: elmatador  Read Replies (1) of 74559
 
Asian Nations Gain Indirectly From Dollar's Declining Value
HONG KONG, May 20 - The most unlikely winners from the dollar's slide in value are some of the countries compiling the biggest trade surpluses with the United States, especially China.
China and most Southeast Asian nations have linked their currencies to the dollar in one way or another, so its slide has pulled down the value of their currencies as well. This has made their exports more competitive in Europe, where the dollar has fallen more than 20 percent against the euro over the last year, and even in Japan, where the dollar has dropped 10 percent against the yen in the same period despite the Japanese government's repeated interventions in currency markets.
Read more:
nytimes.com
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