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Video: Studio interview: S. Korea-Japan ends swap agreement expansion

11-01-2012 13:35 BJT

As planned, South Korea and Japan have let a bilateral currency swap arrangement expire at the end of this month. South Korea’s central bank said the decision came as IT sees the domestic and international financial markets as gradually improving and given the fact that the world’s major ratings agencies upgraded the country’s credit rating recently. Full story >>

Let's head back to the topic of direct cross-strait currency settlement between the Chinese Mainland and Taiwan and we've got professor Liu Baocheng from the University of International Business and Economics with us in the studio for his take on this.

Q1: Professor it’s been a long time coming for this cross-strait currency clearing mechanism, both the Chinese Mainland and Taiwan have gone to great strides to make this work. Now that it’s in place, let’s talk about the various economic impacts it will have on both sides of the strait along with the possible effects this will on broader regional integration.

Q2: And Professor, I’d also like to get your take on the expiration of the expansionary portion of this currency swap arrangement between South Korea and Japan, although the official stance from both countries is that this decision was made purely from an economic standpoint, there have been speculations that it was politically motivated as well. Is this a sign that bilateral economic ties between the two Asian giants are worsening?

 

Editor:James |Source: CCTV.com

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