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Interviewing Russell Napier: What the Asian Financial Crisis Wrought [Ep. 160]

Eurodollar University

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What You've Learned From Taiwan

In early october 1997 the crisis spread to north asia. The currencies of thaiwan molesia the philippines in indonesia had already devalued. These were countries running substantial current aground deficits. If a country with such a large current account surplus and some of the largest foreign exchange was there in the world It could be forced to devalue then which asian exchange rate would not devalue in this crisis. You can't live with a higher interest rates now That's my point on china it's really twofold one Foreigners now do have quite a large stock off liquid RMB denominator securities, which they could sell. They'll say a hundred thousand

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