Long Odds for South Korea’s ‘Swap Regime’ Proposal

As president of the G-20 this year, South Korea seemingly has an appetite for tackling the global economy’s biggest problems. And few challenges loom larger than the significant global imbalances that helped pave the way for the recent international financial crisis. The Koreans have been busy promoting an apparently novel solution to this very problem: an international currency swap regime. But how would such an arrangement work, and could it actually help correct current imbalances? As important, is there any chance this idea will get off the ground? The global economy of today is — and has been for some […]

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