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Brazilian Finance Minister Guido Mantega, who made headlines when he raised the alarm about a currency war in September 2010. Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies.
Could countries' efforts to stay competitive be sparking a currency war? Some signs of conflict. In a fragile economy, every country wants to expand its exports, and low currency values can help ...
In the middle of October 2010, finance ministers gathered in Washington, D.C. for the 2010 annual IMF and World Bank meeting, which was dominated by talk of currency war.. Just prior to the IMF meeting, the Institute of International Finance had called for leading countries to agree on a currency pact to aid the rebalancing of the world economy and to avert the threat of competitive devaluati
The crisis was worsened by the inability of states to resort to devaluation (reductions in the value of the national currency) due to having the euro as a shared currency. [3] [4] Debt accumulation in some eurozone members was in part due to macroeconomic differences among eurozone member states prior to the adoption of the euro.
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In May 2011, a second sequel, Currency Wars 3: Financial High Frontier (Chinese: 货币战争3：金融高边疆), was published by Yuan-Liou Publishing (ISBN 978-9573267843). It discusses more specifically modern Chinese history, from Chiang Kai-shek to the depreciation trend of the U.S. dollar in the long term, seen from a currency war ...
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For premium support please call: 800-290-4726 more ways to reach us