In registration with the US Securities & Exchange Commission will be the first “pure” currency play, as Rydex Investments is the Euro Currency Trust. If approved, it will trade under the symbol FXE. FXE will be structured as a grantor trust. The creation units will consist of 100,000 shares, each representing
In the last 2 weeks, there have been a number of reports, articles and interviews in the Asian Media about the creation of Asian currency unit (ACU), a single Asian currency. By going through these articles, I could understand one thing that ACU will not take place anytime soon, not even in the next 5 years- the earliest time I see is 2015. ASEAN+3 group of countries are behind the idea of ACU and soon these countries are going to start a research project about ACU.
Well, I am not in favor of calling it as ‘Asian Currency Unit’ as it is mainly limited to some East Asian countries and all the countries of South Asia, Central Asia, Middle East and West Asia are left out in it. However, the same goes for Euro too as most of the European countries are still not included.
Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, Japan, South Korea and China belong to ASEAN+3. I do not know why they are leaving the rest of Asia behind. No doubt, that Japan. Korea, Malaysia and Singapore have the best economies in Asia and China is now a huge economic giant. So, this may be one reason of leaving alone the rest of Asia as most of the countries in the rest of Asia do not have modern economic system. Well, on the other hand, Laos, Myanmar and Cambodia have weak economies.
The road to ACU will be surely of an economic reforms and adjustment for these 13 countries. The European countries who took the initiative of forming a single currency (Euro) had more or less similar backgrounds- they were rich industrial countries that followed free market economic system. On the other hand, in AEAN+3 group of countries, Japan and Korea are rich industrial countries. Malaysia can be included in this category and even now China is here. But courtiers like Myanmar, Cambodia and Laos have hardly any significant industry and they have still agriculture based economy. The economic prosperity of Brunei is based on its selling of gas to Japan.
More than economic diversity, political diversity is the major cause of concern. During the Second World War, Japan occupied many of the countries in this region and war time memories still create very bitter passion in China and Korea about Japanese occupation during the Second World War. So, I really like to see how these countries can adjust to a common currency. And, I also like to observe the political leaders and common people about the tough adjustments they have to make for ACU. Especially, the tragic memories the 1997 financial crisis are still fresh in the mind of the people.
It seems that too much expectation is in the air among ASEAN+3 countries about ACU. However, the ground reality is completely different and there is hardly anything now to feel optimistic about the creation of ACU in near future.
Related Article
http://www.southasiabiz.com/
2006/05/asian_currency_unit_acu_what_a.html
Razib Ahmed is a professional blogger and freelance writer. He mainly writes on Asian economy. You can read his articles in the website http://www.southasiabiz.com/
[tags]Asian currency unit, (ACU), China, Japan, Korea,[/tags]
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Wireless Phone Accessory:
Company: BlackBerry
List Price: $29.99
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When you’re on the road, a fully charged BlackBerry smartphone is more than a convenience – it’s a necessity. And now it’s easier than ever to keep your smartphone fully charged, virtually wherever you go.. Just plug the BlackBerry Micro-USB Vehicle Power Adapter into your car’s power adaptor (”cigarette lighter”) and, like other BlackBerry smartphone chargers, it charges your smartphone rapidly, and helps preserve the life of your battery. Then tuck it away in your glove compartment or door pocket until next time. It comes with a coiled 30-centimetre cord that stretches up to two meters for your convenience in any production vehicle. It’s even Micro-USB compatible.
Wireless Phone Accessory:
Company: BlackBerry
List Price: $29.99
Amazon Price: $5.20
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The BlackBerry HS-655+ Bluetooth Headset fuses cutting-edge technology with a sleek, ultra-light design to deliver a mobile experience unlike any other. With Digital Signal Processing (DSP) – the latest in audio technology – the BlackBerry HS-655+ reduces noise levels to provide enhanced sound for clear conversations. AudioIQ® digitally enhanced sound improves the listening experience on both ends of the call, creating stand-out audio so you can hear and be heard like never before. It can be charged in the BlackBerry Power Station or with any BlackBerry travel charger, automotive charger, or data cable so you can always travel light. Optimized for BlackBerry devices and compatible with all Bluetooth enabled mobile phones, the ultra-light and comfortable BlackBerry 655+ Bluetooth Headset uses cutting-edge technology to deliver clear, secure communication. The headset supports 128-bit encryption to ensure the privacy of your phone calls. Digital Signal Processing (DSP) technology maximizes sound quality and reduces background noise, ensuring your voice is transmitted clearly, even in loud environments. Its sleek design includes a discreet contoured earpiece and a carrying pocket that clips conveniently to your BlackBerry carrying case or shirt pocket for easy transport. Soft-gel ear tips in three sizes provide a personalized fit, and an ear hook offers added stability. The pocket case vibrates with each incoming call, while the headset controls volume and mute options, allows you to answer calls and supports voice-activated dialing and last number redial.
Wireless Phone Accessory:
Soft ear gel tips come in three sizes for optimal fit and comfort, Vibrates to indicate incoming calls, Optional ear stabilizer offers additional security, Sleek, stylish design for discreet connectivity, Innovative charging pocket can charge with any BlackBerry® charger
Company: BlackBerry
List Price: $139.99
Amazon Price: $29.99