Comment: Persaud on Asian reserve diversification
The real problem with global imbalances is neither Asian manipulation of exchange rates nor an Asian savings "glut" which only American consumption can offset, said Avinash Persaud on Thursday 22 September, when he presented the report "Official Reserves and Currency Management in Asia".
The CEPR report, which he co-authored with Hans Genberg, Robert McCauley and Yung Chul Park, instead identifies the way Asian savings are being recycled as the real problem. Persaud
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