As domestic and foreign capital has taken flight, the peso has dropped to about 50 to the dollar-off 25% from its average of 40 in 1999 and about half its value of 26 at the onset of the Asian financial crisis in 1997.
One has only to look at the stabilisation of the rupiah and the re-entry of foreign and domestic capital investment into Indonesia to get an idea of the revitalisation taking place.
They trigger enormous domestic inflations, hobbling domestic capital creation and keeping away foreign investment.
Seoul must move decisively to really reduce trade barriers and open domestic industry and financial markets to foreign competition and capital, including those from Japan.
Daily Times too feels that the "economy, particularly energy, needs immediate attention" and notes that "terrorism will remain a great impediment in persuading capital, domestic and foreign, to invest in the country".
The U.S. global development policy and the G-20 development plan share the goal of helping countries reduce their dependence on foreign assistance by mobilizing foreign investment and domestic capital to foster sustained economic growth.
Higher interest rates are likely to attract yet more foreign capital, fuelling domestic liquidity, and so perversely undermining the impact of higher rates.
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If more domestic industries, including finance and real estate, can draw on foreign restructuring capital, general dynamism is again possible.
Peach and Air Asia Japan have their sights not only on domestic flights but also on the route between Tokyo and Seoul, the nearest foreign capital.
It cannot hope to raise the capital it needs to reach its development targets without encouraging both domestic and foreign investment.
Bringing domestic and foreign investors together in the same market would represent a tectonic shift in China's capital markets not least because it requires the dismantling or serious weakening of capital controls.
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But we also need to take a look at the degree to which disclosure, which is what the SEC is supposed to be all about, by foreign borrowers and foreign users of our capital markets does not measure up to disclosure by our own domestic companies.
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