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The Korean initiative to create an ASIAN CURRENCY STABALIZATION FUND + Asian clearing house could be undertaken within the TRADE ROUTE STATEs. |
Individually, only CHINA and possible JAPAN is strong enough to protect the NEW MIDDLE KINGDOM from systematic attacks over currency values.
However as a group in the TRADE ROUTE STATEs, we are more able to stabalized our currencies.
Korea can take the lead, with each state sharing voting rights dependent on their contribution.
I doubt China needs to participate because, on it's own, China is very stable already!
The ASIAN CURRENCY STABALIZATION FUND can be the basis of INTRA TRADE ROUTE STATEs trading using our own domestic currency, thus multiplying the effectiveness of the US$, EURO reserves in our respective states. ie. Korea, Japan, Hong Kong, Taiwan, Singapore, Malaya and Thailand possess almost US$2.0 trillion forex.
Having be able to use WON, YEN, M$, S$, NT$, Bht, HK$ will reduce need for so much US$ in trade.
China could join later on when it's capital markets are ready!