The claim of the G20 finance ministers and central bankers to have put an end to the threat of a currency war is pure illusion. Yes, they have all agreed on the merits of market-determined exchange rates and to not engage in competitive devaluations, but without benchmarks and definitions that is meaningless.
According to Bowring: G20 Illusions
According to Bowring: G20 Illusions
According to Bowring: G20 Illusions
The claim of the G20 finance ministers and central bankers to have put an end to the threat of a currency war is pure illusion. Yes, they have all agreed on the merits of market-determined exchange rates and to not engage in competitive devaluations, but without benchmarks and definitions that is meaningless.
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