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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Archie Meeties who wrote (97887)7/25/2002 9:32:20 AM
From: Win-Lose-Draw  Read Replies (1) of 99280
 
if you could keep it at 10% devaluation, your argument would make more sense. but it is difficult to imagine that kind of control when one of the hugest exporting/trading nations is in a decade+ long recession and simply cannot afford their biggest trading partner having a weaker currency.

so it turns into a devaluation-fest between the two of them - and then 10% becomes 20% and other nations begin to fret about their own exports and -

next thing you know DC has changed its name to Rio and instead of going to work every morning you wake up at 4PM and go samba-ing on chesepeake bay.

if devaluation worked so well brazil and argentina would also work well.
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