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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Box-By-The-Riviera™ who wrote (163790)5/4/2002 1:38:07 AM
From: clochard  Read Replies (2) of 436258
 
Re: Switzerland

What bugs me is this: if every other country does whatever they can to stop their currency from appreciating against the dollar (Japan, Switzerland) while the dollar is decreasing in value, then won't we just have global inflation via competetive devaluation? The Japanese and now the Swiss seem to be convinced that a trick as stupid as this will enhance their competitiveness in trade, when it just makes imports more expensive and hinders them moving from a manufacturing based economy to an intellectual property / services based economy.

morganstanley.com
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