Most forecasts only compare gross domestic products using current exchange rates.
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Then, on October 13th, from Arizona State University in Tempe, Bob Schiffer of CBS News will moderate an exchange on domestic policy that will be similar in format to tonight's.
Gross domestic product, foreign exchange reserves, current account surpluses - big numbers are thrown around daily as Asia tries to measure how bad the Crisis is and whether it is bottoming out.
For those who have some policy space about letting automatic stabilizers do their work, about using discretionary measures, you will see good language in there, again, about how those surplus economies really need to take concrete actions to shift to more domestic demand-led growth, including by using exchange rates, but also by using domestic measures.
If it was a mess on a domestic basis, imagine foreign exchange and international trade.
The company blamed lower gross margins, foreign currency exchange losses and domestic operator networks postponing their tenders.
Another is to exchange access to domestic markets for access to foreign ones.
The main argument for flexible exchange rates that led to their widespread adoption in the early 1970s was that they allow domestic policymakers to adopt policies appropriate to domestic conditions without the artificial constraint of an exchange rate peg.
However, a country that makes that choice will be obliged to make domestic policies consistent with the chosen exchange rate.
If a central bank buys foreign currency to hold down the exchange rate of the domestic currency, it creates more domestic money.
Thanks to its widening trade surplus and strong inward investment, the country has experienced heavy inflows of foreign exchange, which swell domestic liquidity.
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The problem, however, is that policymakers may not want to make their domestic monetary policies subject to formal exchange-rate targets for the sake of global currency-market stability.
This is the value of an exchange-rate peg in an economy such as Hong Kong's: adjustment to external shocks takes place through changes to domestic prices, rather than through exchange-rate levels.
Globalisation has not altered the basic limits: monetary policy can be used to regulate the domestic economy or to regulate the exchange rate, but it cannot successfully accomplish both goals at once.
And key, of course, to achieving this, among other things, is for China and other surplus emerging market economies to take fiscal and other measures to support domestic consumption as well as allowing exchange rates to reflect market forces.
In your view, that would force governments to absolutely fix their exchange rates and forgo any domestic monetary policy.
Part of the solution to both problems preventing bubbles and strengthening domestic spending is to allow exchange rates to rise.
Agriculture contributes a third of the country's gross domestic product, generating much of its foreign exchange.
The chapter on Thailand lays out the evidence of exchange-rate misalignment and booming domestic credit.
The exchange rate adjusts to reconcile the domestic economy and policies with those abroad.
For open economies such as Taiwan and Singapore, exchange rates are instruments of their domestic monetary policies anyway.
But a bigger test of Asian governments' resolve to shift the balance of growth from exports towards domestic spending is whether they will allow their exchange rates to rise.
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Countries with plenty of reserves, such as China or India, could allow mutual funds (domestic or foreign) to issue shares in domestic currency with which they could buy foreign exchange from the central bank.
In the economic sphere, he has gone against the will of important groups in civil society by halting foreign exchange, and placing price controls on domestic and imported products.
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Building on the decisions and commitments made at the G20 last weekend, where China agreed that it was determined to have greater flexibility in exchange rates and agreed to stimulate more domestic demand, the President raised those issues as critical to dealing with the current economic issues, pressed on both the currency issue and on rebalancing and domestic demand.
Unlike a conventional central bank, which can print money at will, a currency board issues domestic notes and coins only when there are foreign-exchange reserves to back it.
The Arizona-based exchange will have futures contracts that are based on domestic box office receipts.
But consumer prices often remain tame, because rising exchange rates and imports fill the gap between expanding domestic demand and supply.
Emerging economies can help strengthen the global recovery by strengthening domestic sources of growth and by allowing more flexibility in their exchange rates.
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That would make servicing foreign-currency debts less crippling and might even allow domestic interest rates, which have been kept high to stabilise exchange rates, to drop a bit.
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