There are no wars,....trade wars. Just currency wars, which are defacto trade wars.
As economies continue to cool, we're going to see more devaluations.
Is this a tipping point? Nope. Don't listen to the pundits. However, this adds much more stress to the financial system. Stress that isn't needed.
Courtesy of the Taipei Times;
Sterling may need to weaken further in order to rebalance Britain’s economy, senior Bank of England policymaker Martin Weale said yesterday, as finance ministers met in Moscow to discuss exchange rates.
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