Asia and US in risky tug of war over dollar

[dArKeR]

From Brasilia to Seoul, finance ministers are obsessing over the US dollar. Its decline could have great impact on the global financial system.

Yet rather than asking Secretary of the Treasury John Snow if the US still favors a "strong dollar," officials should look to Asia.

Regardless of where US President George W. Bush administration wants the dollar to go, Asians have co-opted the strong-dollar policy -- and they aren't about to let go of it.

The US, meanwhile, has stolen Asia's devalue-your-way-to-growth tactic. While Snow isn't saying so, the US seems quite happy with the dollar's 10 percent drop against the yen and nearly 16 percent drop versus the euro during the past year.

http://www.taipeitimes.com/News/biz/archives/2004/01/27/2003092663