Kuroda's crusade for the ACU

Few people paid much attention towards the end of last year when Masahiro Kawai, head of the Asian Development Bank's (ADB) office for regional economic integration, unveiled a plan to launch an Asian currency unit or ACU. Yet within a few months some American Treasury officials were viewing the ACU as a potential "threat to the dollar" and even Europeans, who are generally sympathetic to Asian monetary initiatives, were looking askance.

Asian officials, on the other hand, were hailing the idea

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