Roach: Federal Reserve creating 'a tsunami of money'

One of the world's top investment bankers is the latest to warn that US economy-boosting efforts pose a threat to Asia's recovery. Morgan Stanley's Asia chief, Stephen Roach, says the Federal Reserve's cash creating moves will cause ''a tsunami of money to flood into the east''.

Thailand has already introduced a new tax to dissuade foreign investors and protect itself against the threat of asset bubbles. Mr Roach says others are likely to follow.

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