capital flight

  1. Asia's Financial Crisis Still Has 5 Things to Teach Us Now

    Asia's Financial Crisis Still Has 5 Things to Teach Us Now
    The West could learn a thing or two 20 years after the region plunged into turmoil. Twenty years ago, I was working at the International Monetary Fund in Washington that would scramble -- like almost everyone else -- to understand and respond to cascading financial disruptions that would throw Asia into a deep recession. Important lessons were to emerge from...
  2. Malaysia Ex-Central Bank Chief Recalls 1997 Crisis Lessons: Q&A

    Malaysia Ex-Central Bank Chief Recalls 1997 Crisis Lessons: Q&A
    Twenty years ago, Malaysia was caught up in the turmoil of a currency crisis that began in Thailand and swept across Asia, battering economies, pushing millions into poverty and forcing governments to seek emergency bailouts. Zeti Akhtar Aziz, who was chief economist of Malaysia’s central bank at the time -- later becoming governor -- recalls her experience of the crisis...
  3. China Banks Brace for June Cash Squeeze as Fund Costs Jump

    China Banks Brace for June Cash Squeeze as Fund Costs Jump
    China’s deleveraging dilemma -- how to squeeze excess liquidity out of the financial system without spurring a full-blown cash crunch -- is facing its toughest test. June is traditionally a tight time for banks because of regulatory checks, and this year, lenders are grappling with an official campaign to reduce the level of borrowing as well. Wholesale funding costs and money-market...
  4. China's Deleveraging Puts the Yuan Closer to a Free Float

    China's Deleveraging Puts the Yuan Closer to a Free Float
    Liberalizing capital markets is generally not achieved without liberalizing the exchange rate mechanism. China's financial markets are fascinating to watch these days. Efforts by officials to decrease the nation’s enormous debt pile without destabilizing domestic markets are having profound consequences, most visibly in the bond market, where the yields on short-term debt have risen above those on longer maturities for...
  5. Tycoons from China Plant Money Management Flags on Wall Street

    Tycoons from China Plant Money Management Flags on Wall Street
    When a new hedge fund opened in Mountainside, New Jersey, a leafy suburb that still holds an annual little-league parade, few would have guessed where much of its funding came from: Chinese billionaire Cai Kui. The credit hedge fund, Westfield Investment, was founded by former Goldman Sachs Group Inc. Managing Director Renyuan Gao and managed $139 million as of January. It’s part of...
  6. Short-term money goes out of Malaysia

    Short-term money goes out of Malaysia
    PETALING JAYA: Foreigners have sold RM21.71bil worth of government bonds in the last three months, reducing their share of holding in the debt papers to 28.7% as of end February from a peak of 34.7% last year. According to Bank Negara, 70% of the debt papers that were sold by foreigners have less than three years to mature and the...

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