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Article: Trio facing biggest test.(Indonesia, South Korea, China)
- Article from:
- Business Asia
- Article date:
- March 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 First Charlton Communications Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The reverberations of the giant economies of Indonesia, South Korea and China will be felt by world markets in 1999
Indonesia, South Korea and China -- three economies likely to experience significant change in 1999 -- loom as important countries for Australia.
Firstly, developments in Indonesia may yet ensure that Australia finds itself sitting on the edge of a sea of turmoil
Secondly, China is now so big (with a gross domestic product of about US$1000 billion compared to Australia's US$350 billion) that a significant slowing in its economy could set off further regional currency instability, beginning with a devaluation of the yuan.
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