Global Currency Battles: A Waiting Disaster or a Win for All? Knowledge @ Wharton. March 13, 2013.
To many, Japan’s recent moves to devalue the yen looked like the spark that could ignite a global currency war, a series of competitive devaluations that, last century, helped plunge the world into the Great Depression. Until now, central bankers have been resisting the urge to politicize exchange rates. However, while currency skirmishes can be dangerous and require monitoring, they are also necessary for establishing equilibrium in markets and will help in the global economic recovery, some experts say, according to the report. [Note: contains copyrighted material].
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