What Is the Asian Century? The term the Asian century refers to the dominant economic and political role that China, India, and their neighbors are expected to play in the 21st century. The concept gained credence following the rapid economic growth of China and India beginning in the 1980s, which propelled both nations into the
What Is the Asian Development Bank? The Asian Development Bank’s primary mission is to “foster economic growth and cooperation” among countries in the Asia-Pacific Region. Founded in 1966 and based in Manila, Philippines, the ADB assists members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. The ADB
What Was the Asian Financial Crisis? The Asian financial crisis, also called the “Asian Contagion,” was a sequence of currency devaluations and other events that began in July 1997 and spread across Asia. The crisis started in Thailand when the government ended the local currency’s de facto peg to the U.S. dollar after depleting much
What Is the Asian Infrastructure Investment Bank (AIIB)? The Asian Infrastructure Investment Bank (AIIB) is a new international development bank that provides financing for infrastructure projects in Asia. It began operations in January 2016. How the Asian Infrastructure Investment Bank (AIIB) Works The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank headquartered in Beijing. Like other development banks
An Asian option is an option type where the payoff depends on the average price of the underlying asset over a certain period of time as opposed to standard options (American and European) where the payoff depends on the price of the underlying asset at a specific point in time (maturity). These options allow the
What Is an Asian Tail? An Asian tail is an Asian option that bases its payout on the average price of the underlying security in the last several days or weeks of the contract’s life—usually the last ten to twenty days. This is in contrast to an Asian nose, another variant of an Asian option
What Is the Asia-Pacific Economic Cooperation (APEC)? The Asia-Pacific Economic Cooperation (APEC) is an economic group of 21 members, formed in 1989, with the primary goal of promoting free trade and sustainable development in the Pacific Rim economies. Key Takeaways The Asia-Pacific Economic Cooperation (APEC) is a 21-member economic forum that was established in 1989.APEC
What Is an Application-Specific Integrated Circuit (ASIC) Miner? An application-specific integrated circuit (ASIC) is an integrated circuit chip designed for a specific purpose. An ASIC miner is a computerized device that uses ASICs for the sole purpose of “mining” digital currency. Generally, each ASIC miner is constructed to mine a specific digital currency. So, a
What Is the Agricultural Sector Investment Program (ASIP)? The Agricultural Sector Investment Program (ASIP) was an economic development project initiated in March 1995 by the World Bank Group. The project directed $60 million in funds toward the improvement of agricultural productivity in Zambia and other African countries. Unfortunately, the project ended in 2001 after failing
What Is an Assay? An assay is a process of analyzing a substance to determine its composition or quality. The term is often used in the mining industry to refer to tests of ore or minerals. The term assay is also used in the environmental, chemical, and pharmaceutical industries. Assaying is also important in futures
