British newspaper The Fed cut interest rates by 25 basis points assessment.

<P> More and more like the current global economy a "bureau." .</ P> <P> It http://finance. Inquiry, the Federal Reserve cut interest rates again, the already fragile U.S. dollar will once again pushed to historic lows. .In fact, the Federal Reserve on Wednesday cut the federal funds rate again by 25 basis points, the euro fell to a record low against the dollar, and the breakdown was an important psychological barrier of $ 1.45; pound against the dollar is hitting new 26-year high, while the dollar index .fell to a record low of 76.465. .</ P> <P> Obviously, so far, eyes that could see the dollar is not the "bottom" where they are. .Yes, the U.S. current account and fiscal twin deficits "Unrequited Love" in the context of a record high, the Fed's adding insult to injury, making dollar-denominated assets become less than the financial markets to avoid the "hot potato." .</ P> <P> In fact, the Fed cut interest rates again, so that the assets of the Asian countries, particularly China, was once again under the favor of international capital, the currency of these countries including China are poised to rise to record highs, the RMB so, Indonesia .rupees so, the baht so, the Indian rupee as well. .</ P> <P> interpretation of the next story, obviously people know the earth, especially in Asian currencies the yuan will be accused of "global imbalances," the culprit, its treatment of the weak U.S. currency is the recipe. .</ P> <P> This is the Asian countries, especially China will be a test, raise interest rates? .Yes, deregulation of international capital in the current case, global capital will pour in, their national capacity in the real economy and asset bubbles push up again; cut interest rates? .Historical experience has proven to drive away but the good will of international capital, the bubble economy Ruqierzhi. .</ P> <P> 80 years ago, the United States is warning. .In 1925, the United Kingdom to return to the gold standard, in order to support over-the gold standard, Britain, France and Germany several times to visit the then central bankers in emerging market countries - the United States, allowed interest rates to make international capital back in Europe, so that .U.S. asset bubble of the fire has been boiled boiling oil, eventually led to 1929 crash. .</ P> <P> 20 years ago, Japan once again proved this point. .Although so far, many people blame the Japanese bubble economy in 1985 "Plaza Agreement", but in fact, brewing, and a major source of Japan's bubble economy is the Louvre in 1987, and the scenarios and the dollar is taking place exactly the same: .U.S. dollar devaluation, and then let the Japanese take responsibility for supporting the dollar, in order to support the U.S. dollar return of international capital, Japan cut interest rates continuously, so that the asset bubble has been re-gods carnival madness, and finally crashing down. .</ P> <P> in the current U.S. led international monetary system, perhaps this is the emerging market countries, "fate," Do not think that the eighties of last century the exception of Germany, although many people are looking at Western history books .Germany's "lucky", perhaps all this is futile, it is clear, if not merging the two Germanys in 1990, making Germany a huge balance of payments deficit and West Germany will also fall in the bubble economy. .</ P> <P> one can foresee the outcome, once the U.S. dollar bottomed out and resume its rally, once again the Asian countries without oil can be squeezed profit margins, while Asian exchange rates will peak, perhaps this is Asia .feast at the end. .The 1997 Asian financial crisis proved that. .</ P> <P> surface, 1997-1998 Asian financial crisis originated in these countries, excessive debt, asset bubbles is too large, bad loans more, but the fuse is the most direct U.S. dollar against Japanese yen .fluctuations, in 1995, U.S. and Japanese anti-Plaza agreement, the rapid depreciation of the yen, a direct result of current account deficits in some countries in Southeast Asia and eventually got wind of the international capital fled, then the dominoes fall one by one. .</ P> <P> but who can guarantee that this tragedy will not be in Asia in the next few years once again? .</ P>.