| Currency wars, with their dangerous consequence, global deflation, are raging across the globe. The term "currency war," coined by the Brazilian Finance Minister in 2010, refers to competitive devaluation – central banks employing loose money policies that push their national currencies lower in value than others.
“Currency wars mean exporting deflation,” said Shweta Singh, a senior economist with Lombard Street Research. “Cheaper currency allows countries to export at lower prices; country after country in the past few months has been trying out this strategy. But the Turkish economy seems to be holding its own.”.......................................Full Article: Source
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