11.11.2014 - Currency wars fail to spark global growth
Six years after the financial crisis ended, the global economic recovery remains anaemic. Fiscal stimulus could not be used to redress the situation due to fiscal gridlock in Washington, lack of agreement on policy across the eurozone, and the already high debt-to-GDP ratio in Japan. By default, competitive devaluations stemming from successive quantitative easing programmes have become the stimulus instrument of choice. Such currency wars have boosted equity markets without a simultaneous pick-up in global economic growth...............................................Full Article: Source
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