Could we see a currency war in the world?
Will there be a currency war? That was the trending question on Twitter the day after China devalued the Yuan by 2%. To be fair, a currency war began in 2010 when countries like Japan and the EU adopted a loose money policy. The idea was to debase their currencies so that exports increased. Ironically, 2010 was also the year when the US had announced plans to double exports by 2015. But other countries debasing currencies and China debasing its currency are entirely different. First, the history of currency wars! Continue reading