Asian economies stabilise their currencies against the dollar in order to sell goods to the United States, and simultaneously lend the funds to pay for them. They suggest that the present situation could remain stable for a long while, for the benefit of all. •  A third group of analysts is more sceptical.
They suggest that the current account and foreign reserve imbalances pose the risk of a disorderly currency movement and protectionist pressures. Even more, the role of the US dollar as the key reserve currency could be brought into question. I am keen to hear the views of the panellists on these issues and the role of the IMF.