Sunday, October 24, 2010
A Talk On Currency Exchange Rates At Wang Ming MAF
Amidst rising tensions globally on currency exchange rates, I was invited by MAF of Wang Ming Methodist Church to share with them on currencies.
The 40-minute talk took the audience to 1944 when the Bretton Woods System was established and then back to the present when issues like worsening currency wars between the West and the Eastare confronting the globe. I also touched on the much-talked about internationalisation of Ringgit which has been hotly debated in the press.
G20 met in Korea over this weekend to try to thrash out this global burning issue. On one side is Uncle Sam and the other, China. The issue in the focal point is the greenback and Yuan. Expectedly, the meeting was not fruitful at all.
Is internationalisation of Ringgit that bad at all as claimed by Tun DM? Would Malaysia be vulnerable to speculative attacks if we let Ringgit be fully uncontrolled? Maybe we ought to go on gradual basis to open up our currency.
Certain stuff in my talk might be a bit tough to gobble. Anyway, I hope the fellowshippers had benefited from my talk.
The picture shows me taking question on currency investment in AUD, CAD and USD.