At the same time, hot-money flows into emerging markets have inflated real estate bubbles across many major global cities.
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In China, some warn that the country might be buffeted by speculative hot-money inflows from global hedge funds or big investment banks.
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To her the worlds of currency fluctuations and hot-money flows mean nothing.
First, the hot-money folk were always betting on a long-awaited and large one-off revaluation of the yuan to make them a decent profit.
Massive hot-money inflows present two dangers to China's economy.
Anne Stevenson-Yang of J Capital Research in Beijing, in one of her November e-mail alerts, suggests that the uptick in exports may have been partly due to hot-money inflows caused by currency speculation.
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Yet these governments are being blamed while the currency traders, foreign capitalists and hot-money stock-market raiders are being praised for their efforts to discipline these governments, to force them to change their ways, i.e.
The Philippines, whose sovereign credit rating was upgraded to investment grade by two rating firms over the past two months, has been fighting the so-called hot-money inflows with several measures, including making it easier for locals to take money abroad and lowering a deposit rate for banks that do cross-border business.
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The Philippines, whose sovereign credit rating was upgraded to investment grade by two ratings firms over the past two months, has been fighting the so-called hot-money inflows with several measures, including making it easier for locals to take money abroad and lowering a deposit rate for banks that do cross-border business.
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"There's been an increase in hot-money inflows, but the PBOC may find it difficult to let the yuan rise too fast or tighten monetary conditions too dramatically because the economic recovery remains slower than expected, " said Zhu Chaoping, head of research at ChinaScope Financial, a research and data firm partly owned by Moody's Corp.
Better yet for the manufacturers, they don't have to deal with support costs on a lot of these boxes because the gamers gleefully break their warranties in pursuit of the most tricked-out, custom hot-rod-PC money can buy.
But late-stage investors, who paid high valuations for a stake in the hot start-ups, will lose money if the public market values those firms less than they did.
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The howls and hand-wringing over global capitalism and its trapdoors of "hot money, " hedge fund hocus-pocus and derivative meltdowns have won headlines for shouters like George Soros.
Such wishful thinking led to the financial bubble of 1997-98, when hot money from abroad piled into flimsy stocks and bonds, culminating in the default, devaluation and banking collapse of August 1998.
This year the lack of a white-hot reunion tour means less oldie money.
Hot money, unfortunately for Beijing, is pro-cyclical, reinforcing trends.
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The IRS spends God knows how much of your tax money on these toll-free information hot lines staffed by IRS employees, whose idea of a dynamite tax tip is that you should print neatly.
Drug lords, terrorists and shadow-government operators (but I repeat myself) use third party intermediaries to cool off and sanitize hot, dirty, and therefore useless money into pristine-clean and productive money that can be used in legitimate commerce.
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At least 40 Russians are investing some of their money in their country's red-hot real estate and construction markets.
Malaysia's Mahathir Mohamad appeared to get away with a form of it during the Asian financial crisis of the late 1990s when he divorced his currency from the capital markets. ("Hot money" is a particular bane of contemporary go-it-aloners.) Now Thailand's Thaksin Shinawatra is getting credited, even in sophisticated circles, with galvanizing his country's recovery through internal demand.
In reality, only professional money managers and well-heeled investors get into a hot deal at this price.
Empowered and hot-wired-to-the-Internet consumers can move faster than an electronic money transfer when they feel the need.
Hot Wheels hold their own but the company makes more money on the related higher-priced toys, like the track sets (another traditional Christmas item).
First, the continuation of low dividend and capital gains taxes that had investors flocking in the high-dividend paying stocks and hot technology stocks, as an alternative to near zero money market and CD rates.
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If so, the normal weapon to cool an overheating economy, higher interest rates, is likely to prove partly self-defeating in China because a rise in interest rates would lure in yet more hot money.
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