Creating an Asian Bond
Thaksin Shinawatra, former PM of Thailand | October 7, 2008
It is time for the "globar" - or "global dollar," a collective Asian bond that could revitalize the world economy by catering to US currency-stabilization needs and simultaneously recycling massive Asian surpluses back into tangible assets in Asia itself. ++ Asia's surpluses are primarily in US dollars, a risky investment in the current turmoil. ++ Asian countries are no longer mere borrowers, they are lenders. ++ Development of a collective bond based on one currency and monitored by the IMF is exactly what Asia and the world market need.
