May 6, 1989 |
The Bush Administration on Friday named South Korea, West Germany and Japan as nations that need to do more to cut the huge trade surpluses they are running with the United States. The Administration's assessment, delivered by Treasury Secretary Nicholas F. Brady and Undersecretary-designate David Mulford, was particularly critical of West Germany and South Korea. The officials, testifying before the Senate Banking Committee, indicated that those two countries needed to make significant changes in policy to promote reductions in global trade imbalances.
November 30, 1997
A country-by-country look at the economic crisis that has swept Asia, and the challenges nations face in restoring growth. (Stock market and currency changes are since Jan. 1. Currency changes versus U.S. dollar). THAILAND * Currency decline: -36% * Stock market decline: -52% * Population: 60 million. During the export boom of the early-90s, Thai banks flush with cheap foreign capital lent heavily to domestic borrowers, fueling a real estate bubble. Imports surged.
May 19, 1988 |
Sometime last year, the Taiwanese started buying gold. And they're buying more gold, quietly, often in the form of pure bars weighing more than 400 ounces apiece. This year alone, they have bought a virtual mountain of gold--186 tons--compared to less than a single ton during the first few months of last year. "What does all this mean?"asked Jeffrey A. Nichols, president of American Precious Metals Advisors, a New York investment advisory firm.
October 17, 1994 |
Central Bank Liberalizes Money Transfers: Taiwan's central bank said it will allow non-resident foreign individuals and institutions to freely transfer up to $100,000 in or out of the country. The move is in line with bank efforts to liberalize foreign exchange rules and expand growth in local banks' foreign exchange business, the Central Bank of China said in a statement.