China, Japan, Korea to pool some reserves - report

Bloomberg reported on Friday 4 May that China, Japan and South Korea have agreed to combine some of their foreign-exchange reserves in order to prevent any repeat of the crisis that hit Asia a decade ago.

The report said Japan's Koji Omi, China's Jin Renqing and South Korea's Kwon Okyu will join 10 finance ministers from Southeast Asia in Kyoto on Saturday 5 May to discuss combining some of their $2.7 trillion in foreign reserves.

``Things are at a very early stage and details haven't been set,''

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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