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Currency war ‘real threat’ says IMF chief
Business Digest: Economic recovery at the mercy of currency games
Global currency wars pose "a real threat" to economic recovery, the head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, has warned.
Strauss-Kahn told the BBC that there were signs that certain countries were trying to use their currencies "as a weapon".
"'Currency war' might be too strong, but the fact the countries want to find domestic solutions to a global problem is really a threat to recovery," he said.
In recent weeks both the US and Europe have accused China of sparking a currency war, by keeping its currency, the yuan, deliberately low in order to aid its exports.
Read a full report at BBC News. ·
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At the end of the day,every one is a loser. The midterm election and political competitions have pushed the urgently needed efforts to improve the economy off the table while the economy sly backward draging employment along its slipery path. It appears that everyone is too busy holding the blame China banner that no-one is putting thewir mind to work on fixing the mess. Defending a handfull of trade groups in return for continued political supports will ultimately prove to be foolishly costly to the multitudes and make no contribution to the groups meant to saved(these trade groupâ??s inability or unwillingness to adapt to the change economic environment-let them go down and start putting resources on sustainable industries).
http://www.financemetrics.com/the-currency-wars-of-today/