Can the World Survive a US Downturn?
Asian economies should make a priority the immediate implementation of measures to contain high inflation, instead of setting up a foreign-reserve pool, the US-based credit rating firm Moody's Investors Service said. Member-countries of the Association of Southeast Asian Nations (Asean) are in talks for an $80-billion foreign-reserve pool with China, Japan, and South Korea, with the three larger Asian economies expected to make bigger contributions. Asean groups the Philippines with Brunei Darrusalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, and Vietnam. The...
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photo: AP Photo / Tim Chong, POO
