11/08/2019 16:58

Will China go up in price?

[IMG=18155-3629] From 2006 Bank of Asian development undertakes to start planning the introduction of the single Asian currency. New currency will be called ACU. 13 countries already agreed to become members of the currency zone: Japan, China, South Korea, Brunei, Cambodia, Indonesia. Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. There is a possibility Honk Kong and Taiwan will join them. According to experts, change to a single currency will boost prices on trips. ‘In general, the region is traditionally popular with well-off people so extra $50–60 should not scare them. Yet, Asian destinations that are considered to be inexpensive may be damaged. For example, a Chinese island Hainan,’ remarks Tamara Vsevolozhskaya, general director of ‘Express Line’. On the other hand, specialists note that non-official talks about the single currency have been on for ages, but there have not been any steps towards putting it to life. ‘The introduction of single currency is still a good distance off because national currencies of the above-mentioned states are developing in different directions, even if they are closely tied to each other,’ says Vladimir Pantushin, head economist of ‘Renaissance Capital’ investment company. ‘If this happens, it will take at least 5 years, not less,’ adds Konstantin Denisov, head of South-East Asian department of ‘Kwinta Tour’. Meanwhile, players on the Asian market hope that possible increase of goods and services will not be too considerable.