Stock market is overvalued. Normalization leads to a correction in the stock market in the United States without actually having any notable crossborder liabilities. Even though starting from that is a growing nonbank to nonbank transactions. So why is this a problem . Korea is one of the six countries that is part of advanced economies identified by the financial openness index is having open current accounts but does not have a convertible currency. Thats a problem. Relatively large relatively advanced Financial Market opened but does not have the current account surplus. The one is not internationalize it all. We have to rely hundred percent on the reserves in the Exchange Rate. And given the magnitude of the amount of capitol flow or stock changes ive just shown you once they shift in sentiment you essentially have. Even during the Global Financial crisis the ims if i remember correctly were saying that the career reserves was too high the fundamentals. And if found painfully for t
A little bit hard at times to follow. But then again as a package it made sense. It made sense. Thank you very much. [applause] all right. I would like to thank you all for being here. Two excellent presentations. I would also like to thank our two questioners which sets the stage. Its 1st of them i i dont know that i could introduce you any better than the ambassador did. I will try to be brief. He can give more detail there. To my immediate left a resident scholar at the American Enterprise institute where he studies Asia Economic institutes and trends and particularly focuses on the chinese economies and us economic relations. Before before joining aei he was the Senior Research fellow in the Asian Studies center at the heritage foundation. Senior fellow at the Brookings Center for east asia policy studies. Dr. s. Doctor sublease is an expert in japans economic policies and analyzes. Her analysis includes consideration of whether Free Trade Agreements can be an effective tool templa
Mentoring students after 22 years away. The United States and the philippines have reached an agreement on boosting military cooperation with a focus on maritime security. The pact will see a strengthening in u. S. Military pressness in the philippines and will be in effect for ten years. U. S. Ambassador to the philippines philip goldberg, and Philippine Defense secretary Voltaire Gazmin signed the pact at the defense ministry. The ceremony took place during a visit to the Pacific Island nation by u. S. President barack obama. Under the agreement, the u. S. Military will regularly send troops to the philippines. The two sides also agreed to build or improve military facilities and infrastructure for joint use. The two countries say the number of u. S. Troops to be deployed and specific plans to build new facilities will be decided in further consultations. Sources say the u. S. Military could gain access do sites in the subic bay area on luzon island, and facilities on palaun island.
A lot to offer. Our reporters take you to picturesque old towns, places steeped in history. And one of germanys most famous hiking trails. Lucas stig visits the claim, applica, the tourist attraction and effort. Nicole clearly take suit of im on the small city a big thinkers. And lucas hike then stag. Right through the ther in gin forest. We start with a journey back to the middle ages. Ah. Do you sometimes wonder what it would be like to live in the middle ages . Will i do and bets, i am an afo to day. The old town here is typically many evil. Effort is the state capital of their india and lives right in the middle of germany. About halfway between berlin and munich in the middle ages, several trade routes crossed here, making our foot rich and powerful city. He can still see that in the old town today. There are many beautiful buildings, but there is one place in particular that is known far beyond our foot as a tourist, an effort. This is the 1st place i must see. The came applica t
To the country. Good morning. Welcome to bbc newsroom live. Im carrie gracie. Austria is considering imposing border controls with italy, which has the worst outbreak of the coronavirus in europe. A train from venice was temporarily denied entry last night, because of two suspected cases on board. More than 200 cases have now been confirmed in italy and four people have died. Officials are yet to find the first carrier of the virus in the country and in an effort to control the outbreak, around 50,000 people across northern italy have been put into quarantine. Meanwhile in the uk there have been four new confirmed cases amongst Cruise Ship Passengers who were flown back to britain on saturday. Its been confirmed they caught the virus on the diamond princess liner injapan. Theyve now been transferred to specialist centres for treatment. It brings the total number of cases in the uk to 13. 0ur correspondent sean dilley reports. Around 50,000 people are confined to several towns in two no