Asia’s vast financial institutions are being enlisted to defend currencies
Will Japan join in?
Taiwan’s life insurers and Japan’s Government Pension Investment Fund (GPIF) sound like sleepy organisations—hardly the sort to play a role in international markets. But over the past decade they have become vast institutions. They now look after hoards of foreign assets as big as national foreign-exchange reserves (see chart). In the middle of this year, the gpif alone held more than $700bn in foreign bonds and stocks.
This article appeared in the Finance & economics section of the print edition under the headline “Currency colossi”
Finance & economics October 29th 2022
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- Xi Jinping provokes a spectacular sell-off in China’s markets
- Asia’s vast financial institutions are being enlisted to defend currencies
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- The surprising maturity of the crypto-rave crowd
- How to escape scientific stagnation
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