Comment: A ray of light amid the gloom

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As we stare down the barrel of an age of financial austerity, I have been frantically searching for something positive to focus on. And, as luck would have it, I think I may have found it.

It came to me when I was reading an investment note by Hasley Investment Management. It noted that, in 1995, world foreign currency reserves amounted to $1389bn (£962bn), with developing economies ...

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