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- W2493072007 abstract "The world is in the early stages of a currency war. Other countries will follow Japan and try to weaken their currencies. No country wants to be the last one to the party and miss out on the Code Red punch. Political leaders deny that there is a currency war, but every country will look after its own interests. There were two twentieth-century currency wars: The first happened in the 1930s when countries devalued competitively after leaving the gold standard. The countries that left first grew fastest and were able to generate inflation. The second was in the 1970s when Bretton Woods broke down and currencies were allowed to float freely. Almost all countries tried to devalue their own currencies against others, which led to very high inflation worldwide. In the end, all major currencies were devalued against commodities, gold, and real goods and services." @default.
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- W2493072007 date "2013-10-21" @default.
- W2493072007 modified "2023-10-16" @default.
- W2493072007 title "Twentieth‐Century Currency Wars" @default.
- W2493072007 doi "https://doi.org/10.1002/9781118783559.ch2" @default.
- W2493072007 hasPublicationYear "2013" @default.
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