Law /
Those of us in Sterling GBP are having our backsides kicked [35]
Greece would benefit greatly from a devaluation right now, unfortunately they gave up that option when they switched to the Euro.
True, Greece gave up it's sovereignty when it joined the Euro.
The US on the other hand is double punishing itself each time we print extra money as "cheapening" of the dollar means more expensive commodity prices.
Inflation of commodities helps America because that's one of the few things that we export. That's why the ag sector has been doing so well, additionally Inflation acts as a tariff on imported goods thus manufacturing moves here.
We tend to blame the Chinese no matter what they do but the truth is that their economy is more capitalistic than most western nations, including the US.
It depends how you define capitalism, but China runs a very top down Communist-corporate structure.
As far as a peg to the dollar, the Chinese yuan is NOT pegged to the dollar but rather to a "secret ratio" of several currencies where the dollar and the euro are the largest "ingredients" but many other currencies are part of it too.
It's still pegged and doesn't float.
Japanese yen.
You're showing me a 60 year chart, of course the values are going to change. Japan was devastated after WWII. The Japanese are terrified of a yen stronger than 80 because ... guess what? They lose their export markets.
We have two choices, if you want a strong currency than you have to have tariffs. If no tariffs than our country needs a weak currency.
