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Q. "Fixed exchange rates are not even an option for most countries." Discuss.
Answer: Durable fixed exchange rate arrangements may possibly not even be possible unless countries are willing to maintain strict controls over capital movements as China does or else at the other extreme move to a shared single currency with their monetary partners like as in Europe. Still a country following prudent fiscal and monetary policies isn't safe from speculative attacks on its fixed exchange rate.
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Q. Illustrate the reasons for the economic "miracle" of the East Asian countries between 1960 and 1997. Is it only due to the common Asian practice of industrial policy and busin
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