"Japan continues
to be the world’s biggest financial story. The consensus seems to be that the
country’s extraordinary economic measures are good for both itself and the
world. I’ve detailed previously how Japan’s efforts are
likely to have terrible domestic economic consequences, whether they succeed or
not. Today, I’m going to explore the latter idea: that Yen depreciation will
benefit other countries as they’ll depreciate their own currencies, which will
make their economies more competitive too. This idea, put forward by some
serious financial commentators, is laughable as it ignores both history and any
sense of simple logic. The implications are worth exploring though as
competitive currency devaluations have already begun and are likely accelerate
from here."
http://asiaconf.com/2013/05/
http://asiaconf.com/2013/05/
