Asian Countries Pooling Reserves to Protect Against the Incredible Shrinking Dollar, Part I

May 25, 2007 - Recently it was reported that the finance ministers from Japan, South Korea, Thailand, and China among other Asian countries would meet in Kyoto to discuss pooling some of the region’s $2.7 trillion in foreign-denominated reserves to serve as a buffer against speculators driving down the value of their domestic currencies as happened duri…