Trade Wars, Currency Conflicts and the Global Economy
World financial leaders gather in Seoul, South Korea tomorrow for a meeting of the G-20. Among issues of contention will be the Federal Reserve’s plan to add $600 billion to the U.S. economy. The strategy has been criticized by several countries including Germany, Brazil and to some extent China. Foreign ministers from these countries complain that while the Federal Reserve’s plan may be helpful in the U.S., it will likely drive down the value of the dollar and add new burdens to their own export driven economies: Trade imbalances, currency wars, and ongoing the struggle to right the global economy.
economics editor, "The Economist;" formerly, economist at the International Monetary Fund
chair and CEO, macroeconomic advisory firm Johnson Smick International, editor of The International Economy magazine, and author of the book, The World Is Curved