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2. A Currency Basket for East Asia, Not Just China
- Author:
- John Williamson
- Publication Date:
- 08-2005
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- China recently announced that it is adopting a basket of currencies as the peg for its exchange rate instead of the US dollar. This announcement raises questions of how such a system works, whether other East Asian countries would be advised to follow China in adopting a basket numeraire, and whether it would be advantageous to these countries if they were all to adopt the same basket. This brief answers these questions.
- Topic:
- Economics, International Cooperation, and International Trade and Finance
- Political Geography:
- United States, Israel, East Asia, and Asia
3. Economic Leverage and the North Korean Nuclear Crisis
- Author:
- Kimberly Ann Elliott
- Publication Date:
- 04-2003
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- Almost a decade ago, as the last nuclear crisis with North Korea was reaching a peak, I concluded the following about the potential utility of economic sanctions: The debate over US policy toward North Korea boils down to one deceptively simple question: what does Kim Il-sung want? No one can be sure of the answer and different interpretations have quite different policy implications. If the Great Leader views a nuclear weapons option as important to the survival of his regime, economic sanctions are unlikely to force him to give it up. But if he views the threat of developing nuclear weapons as a bargaining chip, some combination of carrots and sticks may induce him to trade it away.
- Topic:
- Diplomacy, Economics, and International Trade and Finance
- Political Geography:
- Israel, East Asia, and North Korea
4. The Looming Japanese Crisis
- Author:
- Adam S. Posen
- Publication Date:
- 05-2002
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- After more than a decade of economic stagnation and minimal structural change, Japan stands on the brink of outright financial crisis—the only debate is whether the Japanese government can dodge its imminent economic threats for another six months at most, or ride the wave of global expansion to throw still more money at these problems with decreasing effectiveness until the public debt becomes unsustainable (which should be no later than 2005). Either way, volatility in Japanese asset markets will be extremely high for the next 36 months, with significant declines on average in asset prices and the yen.
- Topic:
- Economics, Government, and International Trade and Finance
- Political Geography:
- Japan, Israel, and East Asia