China Currency Peg
It has been an echo in the hallways of power for years now. It was something that even five years ago seemed ridiculous, but now seems almost obvious. The dollar is losing its luster as the world's reserve currency, and the G20 is trying to hammer out the details to replace it. The term currency war is being used again and again as one country argues with another over the best ways to proceed.
On one hand there are the giants, the USA and China, who have the luxury of printing lots of money and manipulating the value of that currency. On the other side are the very small nations with major resources such as Kuwait or Venezuela who are on the verge of development but still need the technological and financial backing of the G20 and other powers to keep their economies going.
Many See China’s Policy as Unfair
In the middle are nations such as Canada and Brazil, emerging nations with massive amounts of certain natural resources, and a strong currency. These upper middle class nations do not like the easy money policy of the USA and they are screaming about it now. They also find China’s money policy unfair, because it cheapens Chinese products at the expense of foreign imports.
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