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The Bank of Korea has joined the U.S. Federal Reserve in reversing the unconventional easy-credit policy once led by the Fed and other central banks.   © Reuters
Looking ahead 2018

QE unwinding is more dangerous than it appears

Asia's emerging markets remain dependent on central bank liquidity

Henny Sender, Nikkei Asian Review Columnist | China

At the end of November, South Korea raised interest rates for the first time in six years.

South Korea is one of many emerging markets where central banks quietly piggybacked on unconventional monetary policy implemented by central banks in developed markets, led by the U.S. Federal Reserve, as they expanded liquidity through a combination of low interest rates and quantitative easing.

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