China Must Fix Global Currency Crisis
George Soros, Financial Times
I share the growing concern about the misalignment of currencies. Brazil's finance minister speaks of a latent currency war, and he is not far off the mark. It is in the currency markets where different economic policies and different economic and political systems interact and clash.The prevailing exchange rate system is lopsided. China has essentially pegged its currency to the dollar while most other currencies fluctuate more or less freely.
I share the growing concern about the misalignment of currencies. Brazil's finance minister speaks of a latent currency war, and he is not far off the mark. It is in the currency markets where different economic policies and different economic and political systems interact and clash.The prevailing exchange rate system is lopsided. China has essentially pegged its currency to the dollar while most other currencies fluctuate more or less freely.
posted by HelenMack at 6:00 AM
0 Comments:
Post a Comment
<< Home