As a result,nike air max 1, the serious consequences that national bank's short-term debt giant, once the foreign hot money flows away quickly led to the world's financial markets will cause painful swings. Although Southeast Asian central banks have also been aware of the seriousness of the problem, but the face of liberalization and open markets are a bit beyond their grasp. Among them, the most serious problem in Thailand. Thailand in Southeast Asia because it was the liberalization of financial markets, the highest degree of baht U.S. dollar peg, capital flows freely.
The first half of this year, Thai banks bad debts estimated at up to 31 billion to 35 billion U.S. dollars. Combined loan structure is irrational, more so Thai banking worse. Thai banking sector overseas loans, 95% less than a year are all short-term loans. In March this year, when the Thai central bank announced that nine domestic financial companies and a housing loan company exists asset quality is not high and the liquidity problem, the Soros Come think the time has come. nike air max 90 Arbitrage fund manager George Soros and begin mass selling baht, Thai foreign exchange market at once rough and turbulent restless.
Thai central bank in an emergency emergency measures, spend twelve billion U.S. dollars foreign exchange buying baht, increased the overnight lending rate, limiting domestic banks lending behavior. These strong measures to make Soros transaction costs surge, sudden loss of three hundred million U.S. dollars. However, the original value of Soros nike air max 95 nike air max 95 theoretical perspective insists confidence, not only did not close out the original position, and even continues to increase positions. Loss of $ 300 million could not scare Soros, nike air max sac longchamp 95 that is trying to make itself even in Thailand, can not resist the impact of nike air max 95.
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