Promises, promises

Article Abstract:

Exports from southeast Asia could rise if the region's currencies become weaker. However, this will not happen if China makes its own competitive devaluation, thus creating further economic problems for the region. Chinese President Jiang Zemin has made a commitment not to undertake a devaluation, but he may well go against this if the Chinese economy continues to slow down. Low-technology exporters in Asia are particularly concerned about competition from China, which benefits from low labour costs and a very large workforce.

Exports of Goods & Services, China, International trade, Southeast Asia

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Off the peg, on the rack

Article Abstract:

The devaluation of the Thai baht has meant that companies borrowing in other currencies have to repay more in terms of bahts. Stock prices initially rallied as investors sought bargains, but this did not last long. Exports should benefit over the longer term, but exporting industries also have to import components. Floating exchange rates mean that companies' calculations will become more difficult. Interest rates have risen and there is hope that these will fall.

Administration of General Economic Programs, Currency Stabilization Programs, Thailand, Currency devaluation, Devaluation (Currency), Currency stabilization

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