The industrial organisation of currency printing industry is indeed fascinating and full of conspiracy theory. So far the basic impression was that most of currency printing was done by Europeans.
Not really as South Korea too is part of the game.
Sojin Shin, a research fellow at the National University of Singapore has a fascinating piece in EPW on this:
Many Asian countries in the 1980s lacked sufficient currency. In most cases, the shortage stemmed from not only the lack of technology to establish mints but also the lack of capacity to produce sufficient high quality currency.
In the currency shortage crises, South Korea was the leader of exporting banknotes and coins to many countries in Asia. Considering that importing domestic currencies from foreign countries may involve financial security setbacks, South Korea exporting currencies at that time meant two more things beyond its obvious success in business. First, South…
View original post 597 more words
Recent Comments