A Falling Dollar Does Nobody Any Good

Although the vast majority of economists are currently hailing the free fall of the dollar as a windfall for American business, the dollar’s demise is a disaster for American consumers. And a disaster for American consumers will ripple across the world to Asia, which sends 34 percent of its exports to the US. It is very hard indeed to decouple from the US train. The managers of the world economy, as the Financial Times notes, will need an entire railway shunting yard to manage it.

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