| HSBC believes that the inflationary environment created by currency devaluation in the 1930s is an unrealistic goal for modern economies. In recent years, the devaluation of 60 percent of global currencies has come at the expense of the stronger 40 percent of currencies. The modern world cannot collectively devalue.
In a new report, HSBC Global Research analyst Stephen King discusses why the global currency wars in recent years have been completely unproductive. According to King, expecting the same positive outcome from currency devaluation that occurred in the 1930s in the modern global economy is absurd...............................................Full Article: Source
|