Launching the Asian bond

Having accumulated massive foreign exchange reserves worth nearly $1.8 trillion in total, which in most cases are denominated mainly in dollars, Asian central banks are feeling distinctly vulnerable to what some leading economists believe is the likelihood of a further significant decline in the dollar's value. This is one of the factors driving current official initiatives (which appear to enjoy strong market support) to develop a pan-Asian bond markets capable of absorbing a significant portio

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