Still, devaluations of currencies in Europe and elsewhere-- Britain, Italy and Spain have all been humbled by the markets-- have taught investors and central bankers alike that trying to strong-arm exchange rates can be futile.
32.
U . S . Treasury Secretary Robert Rubin agreed, pointing out that the massive economic woes that will dominate the talks started last summer with the devaluation of currencies in small Asian countries, first in Thailand.
33.
"The Asian situation and the devaluation of currencies makes the trade nervous that we won't see demand, " said Don Roose, a broker at U . S . Commodities Inc . in West Des Moines, Iowa.
34.
Additionally, they point to Federal Reserve Chairman Ben Bernanke's " Quantitative Easing " ( such as QE1 and QE2 ) to being the same type of American government devaluation of currency for which it is unduly accusing China.
35.
Mr Yam warned that a devaluation should be prevented " at all costs " because it would result in the collapse of the Hong Kong stock market and spark a fresh round of devaluation of currencies in the region.
36.
Chok also defended Hong Kong's ability to maintain the Hong Kong dollar on a par with the U . S . dollar, after analysts suggested that the devaluation of currencies in the region made Hong Kong's exports less competitive.
37.
The recent crisis in Southeast Asia triggered by the nearly 30 percent devaluation of currencies " highlights the need for some insulation of developing countries against the whims of ` market sentiment'and exchange rate fluctuations, " said Indian vice president, Krishna Kant.
38.
They have viewed Camdessus as arrogant _ " I am French, " he once said in an interview during the Asian financial crisis, " and what Frenchmen is not accused of that ? " _ and far too quick to urge the devaluation of currencies and fiscal austerity.
39.
"With the potential devaluation of currencies in the Far East and the discussion of what may happen in Brazil, the market will shoot any company that has exposure there first and ask questions later, " said Lanny Sachnowitz, a senior portfolio manager at the $ 5 billion AIM Charter Fund.
40.
"With the potential devaluation of currencies in the Far East and the discussion of what may happen in Brazil, the market will shoot any company that has exposure there first and ask questions later, " said Lanny Sachnowitz, a senior portfolio manager of the $ 5 billion AIM Charter Fund.
