09.11.2015 - Pacific trade zone nations make currency vow
The US, Japan and 10 other countries joining a new Pacific Rim trade zone have pledged not to engage in currency wars with each other and to disclose any interventions in foreign exchange markets. The currency promise on Thursday came alongside the release of the full text of the Trans-Pacific Partnership, which President Barack Obama described as a break from past trade agreements that “haven’t always lived up to the hype”. The pledge is aimed at addressing one of the biggest gripes of US critics of the TPP, including the Democratic presidential frontrunner Hillary Clinton, who say that countries such as China and Japan have in the past competed unfairly by intervening to keep the value of their currencies artificially low in order to benefit their exporters...............................................Full Article: Source
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