what make me surprise is i can not find this news in any sg media and website!
Singapore's sensorship may not as strick as countries like china. but what for hide such news from its ppl in such period!?
Sg's relationship with china, the super industrial engine, are not as good as descriped by gov. china intend to bulid a canel at Thailand last time to avoid ship by malacca. and I read news on uk website saying china sold a few military air carrier to malaysia due to angry on PM's visit to Taiwan.
whatever it is, it is ok for me, but I hate being treated as idiot.
http://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&NewsID=20916
China signs RMB 80 bln currency swap agreement with Malaysia
Feb. 9, 2009 (China Knowledge) - The People's Bank of China (PBOC) has signed an RMB 80 billion (MYR 40 billion) currency swap agreement with Bank Negara Malaysia to enhance the economic growth in the two countries, according to an announcement on PBOC's website on Sunday. The announcement said the agreement would be carried out over three years and could be extended if both countries agreed.
Woah.. China trying to put its foot into our ASEAN common market
Originally posted by geodome:Woah.. China trying to put its foot into our ASEAN common market
is there an ASEAN common market?
currency swap agreement is to lock the exchange rate.
singapore has absorbed so many excess labour, mainly are those so call migrate worker. but seemed there is no appreciations. I thought sino-sg relationship is much more better than sino-malaysia's. why?
still i do not understand why sg media try to hide this. who the hell bother the cctv buliding was on fire!
Because Malaysia Boleh.
enhance economy growth by exporting malamine to malaysia, ha a ha
I think the link is taken down.....
but can anyone know how the currency swap is able to enhance economic growth?....
Originally posted by 4sg:I think the link is taken down.....
but can anyone know how the currency swap is able to enhance economic growth?....
Not sure ... But maybe locking the exchange rate takes away 1 potential variable or risk factor in doing cross border businesses.
Afterall forex losses in companies financial reports are around and it may not be easy to fully hedge these exchange rate risks.
My economics is abit off so can anyone tell me how this currency swap can lock the exchange rate?
Please.. China is trying to divide and conquer ASEAN..