Is currency manipulation a bad idea?

Countries have long used currencies as a tool to gain competitive advantage and economic muscle. However, in modern-day context, currency devaluation has a greater political subtext where manipulation by a stronger country doesn’t allow it hegemonic control over others, reports The Globe and Mail. The report features an interview with Benn Steil, director, international economics, […]

By Staff | March 25, 2013 | Last updated on March 25, 2013

1 min read

Countries have long used currencies as a tool to gain competitive advantage and economic muscle.

However, in modern-day context, currency devaluation has a greater political subtext where manipulation by a stronger country doesn’t allow it hegemonic control over others, reports The Globe and Mail.

The report features an interview with Benn Steil, director, international economics, Council on Foreign Relations, who talks about issues ranging from accommodative monetary policies to trade measures and an alternative currency system.