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1.Why do the countries following fixed exchange rate (such as China, Korea, Japan and ASEAN) have done well whereas many other countries following fixed exchange

1.Why do the countries following fixed exchange rate (such as China, Korea, Japan and ASEAN) have done well whereas many other countries following fixed exchange rate system have done worse? In this context highlight the pros and cons of Fixed versus Flexible Exchange Rate Regime for an economy and its businesses?

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