The Euro inspires Asia.

Inspired by the Euro, Asia is working on the 'Asian currency unit' and has just seen the USA drop it's long-standing opposition to it.

June 16, 2006.
The US on Thursday signalled it would not fight efforts to create an Asian currency unit, turning the page on over a decade of largely consistent opposition to Asian monetary integration.

US officials said the move is intended to show that the US does not fear greater monetary co-operation between Asia’s rising economic powers and wants to play a constructive role in helping to shape it.

The green light from the US is a big boost for Japan, which has been pushing the idea of an Asian currency unit loosely modelled on the European currency unit, the precursor to the euro, in face of considerable regional scepticism. It comes at a time of growing diplomatic closeness between Washington and Tokyo.

www.ft.com...

- Obviously this will take years and have to overcome all sorts of hurdles and difficulties (just as the Euro has done and probably will contiunue to do so for a while yet) but the writing is on the wall, surely?

The new and enormous economic blocks are slowly forming, a greater independance from the once almight US $ is a growing requirement.

I'd say some very interesting economic times lie ahead.

It appears North America is headed down that same road.
www.abovetopsecret.com...

This article has a link in my post to a lengthy CFR (Council on Foreign Affairs) report.
www.abovetopsecret.com...

Let's see. We have the EU, and the Asians are talking joining forces on some levels and the N Amer Union is moving along.
AND the CFR involvement!!!
Sound like NWO to anyone??

HeYA Sminkey
you know i still cant the hang of the mulitple quote in my other debate

Anyway onto this one heheh
One thing that i just cant get my head around is the benefits (as with the euro) other countries in Asia will get.

For arguments sake the Sterling has always been a very strong trading currency along with the Deutchmark, i am yet to be convinced of the benefit to the UK/Germany/Holland and the likes of quiet ''well-off and stable'' countries like them as opposed to countries like Poland/Turkey (this yr i think) Malta/Sloviaki and the like of them type of countries that have never had a strong currnecy and stable ''zone''.

Would this be the same say with
Japan /Brunei/Singapore (who are the top 3 richest countries in Asia) would they have to ''bail'' out the 3 poorest countries in Asia which are East Timor/Nepal/Thailand.

Just as with the euro (my opinion) they has got to be a stop somewhere when ''charity begins at home''.
You know my views on the wealth in the world today we agreed on that one mate, but perhaps this 'whole thing would ONLY work'' if it was a Global Curency, but then we step into the depths of the NWO type of scenario...different thread for that mate heheheheh.

In my ignorance im unaware of the full implacations of the euro and as you have said before i should look up more on it, but from the info ive gathered all be it a small bit i cant see it working mate, maybe im wrong

all the best sminkey

Originally posted by spymaster
HeYA Sminkey

you know i still cant the hang of the mulitple quote in my other debate

- It'll happen, just try and make good use of your preview function (and I have a habit of copying that too cos sometimes the page gets lost in an error and won't move on as it were)

For arguments sake the Sterling has always been a very strong trading currency along with the Deutchmark, i am yet to be convinced of the benefit to the UK/Germany/Holland and the likes of quiet ''well-off and stable'' countries like them as opposed to countries like Poland/Turkey (this yr i think) Malta/Sloviaki and the like of them type of countries that have never had a strong currnecy and stable ''zone''.

- I suppose it comes down to the fact that they are in 'our' zone however you look at it.
We (or 'all' in each of these blocks) all trade together and are close anyway, this is merely a logical extension of current realities IMO.

IMO so far the UK has gotten away with being between the 2 big block currencies (the US $ and the Euro) but there are no guarantees that situation will continue indefinitely, life could get decidedly uncomfortable if we end up being sqeezed between the two.

Would this be the same say with
Japan /Brunei/Singapore (who are the top 3 richest countries in Asia) would they have to ''bail'' out the 3 poorest countries in Asia which are East Timor/Nepal/Thailand.

- It would appear that the same logic is driving them too.
They may be further away from it but it is worth remembering the Euro took decades to create.
Maybe they will have it a little easier because several Asian countries have recent experience of using a formal 'tie' to another currency (to the US $)?

Just as with the euro (my opinion) they has got to be a stop somewhere when ''charity begins at home''.

- I realise this comes down to POV but as is the case with all these collective ventures the whole point is that ultimately 'their' gain is 'our' benefit, speaking long-term and as Europe's recent post-war history shows, it works.

However 'laissez fair' US economists might be today their forefathers realised this with the original post WW2 Marshall plan.

You know my views on the wealth in the world today we agreed on that one mate, but perhaps this 'whole thing would ONLY work'' if it was a Global Curency, but then we step into the depths of the NWO type of scenario...different thread for that mate heheheheh.

- That may indeed come one day although whether it is the nightmare some insist on seeing is another matter.

But in view of how far off the 'blocks' are in making their own common currencies just now I'd say that is quite some way off.

In my ignorance im unaware of the full implacations of the euro and as you have said before i should look up more on it, but from the info ive gathered all be it a small bit i cant see it working mate, maybe im wrong

- You're entitled to your view same as anyone sm.
I'd just point out that it already is working (and ever since it's creation despite some gyrations right at the start or complaints of some it has maintained it's value well within the 'band' of what it's constituent parts were worth).

Like any currency before it that does not mean all is suddenly milk and honey.
It certainly does not solve every problem in and of itself.
But it does reduce costs and it does promote greater economic stability and harmony which should be a better overall situation for us than what went before.

all the best sminkey

- You too sm.

Originally posted by sminkeypinkey
- Obviously this will take years and have to overcome all sorts of hurdles and difficulties (just as the Euro has done and probably will contiunue to do so for a while yet) but the writing is on the wall, surely?

Its in its pre-blue print stage I'd say at the moment, but yes the writing so to speak is now on the wall.
In my opinion Asia is going to have more difficulties with its "Asia Coinage" than Europe did and does with the Euro.
Differences between European countries are "issues" at time but I think the "issues" between Asian countries are going to be even greater, for a start Asia is a hell of alot bigger than little old Europe.

Originally posted by sminkeypinkey
The new and enormous economic blocks are slowly forming, a greater independance from the once almight US $ is a growing requirement.

Well not "once almighty US $", its still a major power within the economic world, but the international stage no longer belongs to the cold war powers of the USA and the USSR, although the USA is still the last remaining superpower if I were being picky.
I can see the world regionalising to some degree, with a fair selection of countries in each region sitting out for better or for worse.
Looks like Europe has got a headstart on everyone else...

Originally posted by sminkeypinkey
I'd say some very interesting economic times lie ahead.

Aye I'll say!

[edit on 11-7-2006 by Prometheus James]

Originally posted by Prometheus James
In my opinion Asia is going to have more difficulties with its "Asia Coinage" than Europe did and does with the Euro.

- That may be PJ but do you think their experiences of pegging to the US$ will help them when it comes to begining the alignment in preparation for this?

Well not "once almighty US $", its still a major power within the economic world

- Oh don't get me wrong PJ, I wasn't saying or implying the US $ was not mighty, of course it still is, just not quite so 'almighty' as once was.

Looks like Europe has got a headstart on everyone else.

- Let's hope it's a head start that does us all a great deal of good.

sminkeypinkey, please read your U2U's

Sorry for the OT -- and I'll delete this once you get back to me.

It's not anything bad, but please check your inbox!