Though emerging economies' excess saving will not disappear quickly (he is unconvinced, for instance, that a stronger Chinese currency would make much difference), Mr King believes these rising giants will be increasingly unwilling to hold the bulk of their reserves in dollars.
"I don't believe that there's much China could do with the currency that would make a difference in the trade balance, " he adds.
The difference is that the flaky-currency players don't buy dollar-denominated bonds and don't buy longer-term paper.
There is a difference of course, between managing currency volatility and completely eliminating it.
As our Billionaires team acknowledges, the valuations in this estimable project are a month old or more by the time you see them, and with volatile securities and currency markets, that can make a big difference--I'd say 10% down to some recent lows.
There will be a price spread between onshore and offshore forex trading, meaning one product will cost a little more than the other and can be bought and sold against each other for a few pennies difference, adding to the very currency speculation the government says it wants to curb.
The second step would be for the PBC to perform dollar-for-yuan foreign exchange reserve swaps with African central banks, with China offering to split the seigniorage (the difference between the face value of currency and the cost to produce it) with the African nations as a form of foreign aid.
FORBES: China's Yuan Internationalization: Made In Africa, Not Hong Kong
Does he not understand the difference between a financial instituion and a currency?
Firms charge either a spread the difference between what the brokerage versus the investor pays for a currency or a 2 percent fee plus a cut of the profit.
WSJ: Currency Traders Follow the Leader | WSJ.Money Summer 2013
The first difference you realize is that gaming is conducted only in the digital currency bitcoin.
FORBES: BitZino And The Dawn Of 'Provably Fair' Casino Gaming
But the most distinctive difference between the parties lies in their attitude to the European single currency.
The one difference is that this week, a greater percentage of outflows were attributed to local currency funds mainly because emerging market currencies (Brazil, in particular) have suffered in the recent risk-off period.
The only difference is that open economies with floating currencies may experience that fall in incomes through currency depreciation and thus higher prices for consumer goods while a closed economy will suffer a decline in wages as expressed in the local currency.
Another explanation for any difference between how much items cost and what actually appears on a credit card statement is Dynamic Currency Conversion.
应用推荐