An answer can be found in the burgeoning size of SWFs, stemming in the Gulf from high oil prices and in southern Asia from the sustained export boom, and in the more aggressive strategies of newer players like QIA, a range of Dubai government-affiliated vehicles such as Istithmar and Dubai International Capital (DIC), and Abu Dhabi's Mubadala Development Company.
In a recent paper Caroline Freund and Martha Denisse Pierola of the World Bank show that sustained export surges in the developing world are often associated with sharp currency depreciations, which encourage entry into new markets and products.Unfortunately, cheap currencies also discourage the consumption of traded goods by making imports more expensive.
A 2012 letter by two Israeli government chief scientists – which the Israeli government chose not to disclose – warned the government that Israel still had insufficient gas resources to sustain exports despite all the stupendous discoveries.
OPEC's surprise move to cut 900,000 barrels a day from its output -- oil ministers had been hinting that no change in quotas was likely -- was probably made possible by Mr. Uloum's assurance that Iraq would be able to sustain exports of that very amount.
Added support for the economy is likely to come from abroad, sustaining rising exports, which have been propelled by healthy growth everywhere from China and India to Europe and the Middle East.
So instead of sustaining net exports with U.S. buying, the euro is left to appreciate to the point where there are no net exports.
But a few are producing enough cheese, sometimes in conjunction with other local farmers, to sustain an export market.
But executives say the country cannot sustain its export capacity without adequate investment, and investments in machinery and equipment plunged 8.4percentt in 2002.
For years it has known that it is overly reliant on the dollar, but it delayed diversifying in order to sustain its export economy.
And China has long purchased dollar- and yen-denominated assets in an effort to keep its renminbi weak enough to sustain its export economy.
