重磅会议召开！货币战争，中国要反击了！

Group 1 - The article discusses the recent appreciation of Asian currencies, particularly the Japanese yen, Chinese yuan, and New Taiwan dollar, amid a currency war initiated by the U.S. [1][5] - The U.S. Treasury Secretary, who has a history of currency speculation, is seen as a key player in this currency conflict, having previously targeted the British pound and Japanese yen [5][9] - The offshore yuan appreciated significantly, rising over 900 points in two days, while the New Taiwan dollar saw an unprecedented increase of over 9% [5][15] Group 2 - The article contrasts the strategies of hedge funds, which aim to devalue currencies for profit, with national strategies that typically seek to maintain or devalue their own currencies to support export-driven economies [6][7] - For export-oriented economies like Taiwan, a weaker currency is beneficial as it increases the profitability of exports, while a strong currency can harm competitiveness [8][14] - The article highlights the risks faced by Taiwanese financial institutions due to their heavy reliance on U.S. dollar assets and the lack of hedging against currency fluctuations, leading to significant losses amid the recent appreciation of the New Taiwan dollar [17][19] Group 3 - The Hong Kong dollar's situation is unique, as it is pegged to the U.S. dollar, and the recent appreciation has led to concerns about maintaining this peg [20][21] - The Hong Kong Monetary Authority has intervened by selling over 100 billion Hong Kong dollars to stabilize the currency, resulting in increased U.S. dollar reserves [21][22] - The article warns of potential asset bubbles in Hong Kong due to the influx of capital, which could pose risks if the market experiences a sudden withdrawal of funds [23] Group 4 - The Chinese yuan's stability is emphasized, with the article noting that it has only appreciated by less than 2% despite a 9% depreciation of the U.S. dollar since January [23][24] - Regulatory interventions are expected if the yuan's exchange rate fluctuates significantly, with historical patterns indicating intervention at certain thresholds [25][26] - The article concludes that while a stronger yuan could attract capital inflows, it is also a bargaining chip for the U.S. in trade negotiations, suggesting that the yuan's appreciation is not straightforward [27][28]