Modern Business

Archive for March, 2010

Daejeon, South Korea: Asia is considered necessary to tighten control over the inflow of capital into this area which was considered too easy to go out quickly so that could destabilize financial markets.

Strategy and Finance Minister of South Korea Yoon Jeung Hyun expressed the need for world security network (global safety net) to tackle these capital flows.

“A number of developing countries would have the option to accumulate reserves in order to face the crisis. However, it is the high cost that is not the best choice. Global safety net is a good choice for all countries,” he said this afternoon.

He explained the IMF to prepare a more detailed plan to address capital flows that are too easy in and out and ensure global financial stability. However, IMF Managing Director Dominique Strauss Kahn assess actual Asia has shown resilience to the global financial crisis and even its economy continues to grow.
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