Reuters: “China, Japan and South Korea agreed on Thursday to boost cross-investment in government bond markets, worth nearly a combined $15 trillion, in a move that will better prepare the countries to protect their financial markets from external shocks.
East Asia map China/Japan/Korean peninsula (Photo credit: Wikipedia)
The three economic powers sought a formal agreement, a rare one on securities investment, to ease mutual concerns about possibly massive cross-border fund flows and because their capital markets are at different levels of development. The move also comes as many of the heavily exposed economies in East Asia have struggled to find ways to avoid a repeat of the 1997/98 Asian financial meltdown and other turmoil that has struck during times of crises originating outside the region.”
via China, Japan, South Korea to boost investment in each others bonds | Reuters.
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