In addition, adjustment in production and inventories of IT-related goods is unlikely to be as severe as at the time of the bursting of the IT bubble in 2001. This is because demand for IT-related goods, such as digital home appliances and electronic parts for automobiles, has been expanding, and manufacturers have been adjusting their production and inventories promptly.
It is correct that we are living in an increasingly complex world with a multitude of exchange rate regimes - about one-third of IMF countries have their currencies pegged to one major currency or currency basket, while others have various modalities of floating exchange rate systems from pure floating to more or less managed float.