Asian Currency Protection Plan Agreed But Sceptics Unconvinced
NEWS
CHIANG MAI, Thailand--13 East Asian nations last week signed a currency agreement in a bid to fight future economic crises in the region, but the idea has been met with scepticism.
Although many details of the plan are not yet finalized, some analysts are already dubious about its prospects. "The idea of this coalition is good in principle, but there are inherent problems attached to it," says one US currency analyst.
"If a crisis similar to 1997 hit Asia, it is likely to sweep through the region
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