Currency Wars : USA and Europe have little fire power.

Foreign Exchange Reserves are an indicator of the ability to withstand a currency war. We attempt a study of this ability by analysing the data available from Bank for International Settlements which is as of 2013.  Figures are in billion of US Dollars.

Table I gives the Position of Changes and of Stocks of Forex Reserves 

Country	2008	2009	2010	2011	2012	2013	Outstanding 2013
World	641	819	1100	941	747	733	11686
US	4	1	2	0	-2	-2	48
Euro Area	-1	-8	13	1	12	1	221
Japan	55	-7	39	185	-28	9	1203
Swiss	0	47	126	54	197	21	489
Asia	410	715	651	424	239	529	5880
China	418	453	448	334	130	510	3821
Taipei	21	56	34	4	18	14	417
Hong Kong	30	73	13	17	32	-6	311
India	-20	12	9	-5	-1	6	268
Indonesia	-5	11	29	14	2	-12	93
Korea	-61	65	22	11	19	19	336
Malaysia	-10	2	9	27	6	-4	130
Philippines	3	4	16	12	6	2	74
Singapore	11	12	38	12	21	14	270
Thailand	23	25	32	0	6	-12	159
LatAm	42	25	81	97	51	-6	688
Argentina	0	-1	4	-7	-3	-12	25
Brazil	13	39	49	63	19	-13	349
Chile	6	1	2	14	0	0	39
Mexico	8	0	21	23	16	15	169
Venezuela	9	-15	-8	-3	0	-4	2
CEE	6	13	14	3	15	20	294
Middle East	150	-29	50	88	148	79	893
Russia	-56	-5	27	8	32	-17	456

 It could be seen that the fire power is with Asia and most particularly with China in quantum terms
Table II gives the percentage share of respective Group or Country to Total World Reserve Stock.

Table II Respective Percent to Total World Reserves. 

US	0.41
Euro Area	1.89
Japan	10.29
Swiss	4.18
Asia	50.32
China	32.70
Taipei	3.57
Hong Kong	2.66
India	2.29
Indonesia	0.80
Korea	2.88
Malaysia	1.11
Philippines	0.63
Singapore	2.31
Thailand	1.36
LatAm	5.89
Argentina	0.21
Brazil	2.99
Chile	0.33
Mexico	1.45
Venezuela	0.02
CEE	2.52
Middle East	7.64
Russia	3.90

CEE = Central and Eastern Europe

Middle East = Only 4 countries    Kuwait, Libya, Qatar and Saudi Arabia. 
China and Hong Kong together is 35 percent of World reserves. Japan and 4 Oil exporters are seemingly strong. The rest are just on the periphery.