By DONALD GREENLEES
Published: March 27, 2008
HONG KONG — Anthony del Rosario, who works on an oil tanker that travels between the Middle East and South Korea, is sending home less money to his family in the Philippines. Takeshi Okada, a shoe manufacturer in Japan, is concerned about the possibility of declining export sales.
They have a common worry: The sliding value of the dollar is putting them under increasing financial pressure.
The decline in the buying power of the dollar is, according to economic analysts, only a high-profile symptom of the economic slowdown and credit squeeze in the United States. But for many businesses and workers who once regarded themselves as lucky to be paid in dollars or dollar-linked currencies, the weakening dollar is a sure sign of tougher economic times ahead in Asia. [Read more]
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