Exorcising the ghost of Asian financial crisis
Singapore
THE strength of the US dollar has created an illusion that Asian export numbers are weak, and Asian currencies are plunging - wrongly invoking the ghost of the Asian financial crisis as a result, a senior economist at DBS noted on Wednesday.
"Asia today looks nothing like Asia in 1997," said David Carbon, head of currency and economic research at the bank, at a media briefing. "We're not falling into an abyss. We're doing okay. It's just because we are measuring stuff the wrong way."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
BOE reports record usage of short-term liquidity repo
Philippines central bank not seeing rate hike despite peso weakness: finmin
Middle East tensions threaten global progress on inflation: World Bank