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Trump currency war increases risks for Asia

Region must use revaluation to boost economic and corporate restructuring

| China
Asia needs to recognize rising exchange rates signify economic strength.   © Reuters

Donald Trump has mastered the art of the tease. The U.S. president's offer to rejoin the Trans-Pacific Partnership, for example, set Asian hearts racing with hope that a looming trade war may be averted.

But the real news of the past few days did not come from the White House, but from U.S. Treasury Secretary Steven Mnuchin provoking markets with a currency war. Even though Trump walked back Mnuchin's threat, after the dollar plunged to three-year lows, the risk of currency conflict just become serious.

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