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Jun 09, 2022 07:12 PM
FINANCE

Yen at 150 May Risk Rerun of Asia Financial Crisis, Economist O’Neill Says

Economist Jim O'Neill, who now heads the City Growth Commission. London Photo: Bloomberg
Economist Jim O'Neill, who now heads the City Growth Commission. London Photo: Bloomberg

(Bloomberg) — The yen’s current slide may spark turmoil on the scale of the 1997 Asian Financial Crisis if it declines as far as 150 per dollar, according to veteran economist Jim O’Neill.

A slump of that magnitude may convince China to intervene in the currency market to protect its own flagging economy and it would be perfectly rational for it to do so, he said in an interview last month that he reaffimed on Thursday.

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