Some facts: 1) In 2003, Japan increased its reserves by $200 billion, emerging Asia by $245 billion. The world as whole increased its reserves by $500 billion, so Asia accounted for most of the worl…

Or so the FT reports. The Bank of Korea seems to have concluded the Korean won was strong enough and bought dollars/ sold won to limit the won’s appreciation. And the Bank of Korea may not have bee…

That alone ought to catch your attention. Whether talking about the US (needs Chinese financing), Latin America (needs Chinese demand for its commodities) or Europe (needs China to lets its exchange…