Currency War and Peace (Canuto)

Currency war and peace by Otaviano Canuto published by Project Syndicate (3/2013). “Anxiety over unconventional monetary policies and ‘currency wars’ must not continue to dominate global policy discussions, especially given las month’s pledge by G-20 leaders not to engage in competitive currency devaluations. Instead, global leaders should work to maximize the liquidity that unconventional policy measures have generated, and to use it to support investment in long-term productive assets. Such an approach is the only way to place the global economy’s recovery on a sustainable footing.”