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.
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.
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Does he not understand the difference between a financial instituion and a currency?
The first difference you realize is that gaming is conducted only in the digital currency bitcoin.
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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.
Another explanation for any difference between how much items cost and what actually appears on a credit card statement is Dynamic Currency Conversion.
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