Over the weekend, the G20 did a great job in shattering trust in the system: after a week of publicly denouncing a currency war of easing until there’s nothing left to ease, while predominantly pointing the finger at Japan as the culprit, the outcome goes as follows. Everyone, including Japan, may do as they please as long as there is no public advocacy for devaluing currencies. So far, all that talking about it has done is making things worse.
Currency wars – silent edition
ReplyDeleteOver the weekend, the G20 did a great job in shattering trust in the system: after a week of publicly denouncing a currency war of easing until there’s nothing left to ease, while predominantly pointing the finger at Japan as the culprit, the outcome goes as follows. Everyone, including Japan, may do as they please as long as there is no public advocacy for devaluing currencies. So far, all that talking about it has done is making things worse.