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The Concept of Currency Wars in the Global Economy. Observations of the Renminbi, American Dollar and Euro
Kamil Jach
Abstract
The following article analyses the factors that trigger a currency war and its impact on the economy. The situation on the United States – Chinese front is difficult since both countries are struggling to keep the exchange rate as low as possible. Decisions for maintaining these goals are not simple and often lead to a deterioration of the economy. The situation on the United States – Euro Area front is also dramatic as the euro is currently facing a large debt crisis. Furthermore, years of living beyond their means has led to the current situation. More and more countries are facing a fear of insolvency, scared investors are withdrawing their funds and putting them in better, much safer investments. Figures as well as detailed descriptions will give the reader a better understanding of the mechanisms and objectives behind the initiating of a currency war.Keywords
Currency war ; economy ; China ; United States ; euro area ; euro ; renminbi ; dollar
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