For the past several decades, the world has been eyeing China amid unprecedented growth. In the West, the common assumption is that China’s growth is a worrying trend. These countries zero-sum game approach has given fuel to the currency wars escalation over the past 30 years. In 1971, Richard Nixon announced his new economic policy, a policy that imposed national price controls, a steep surtax on foreign imports, and banning the conversion of dollars into gold. Nixon decided that these extreme measures were necessary as faith in the dollar was quickly fading (Hayes 2015).
Countries have been implementing policies in attempts to manipulate their currencies relative value since the emergence of a global economy for hundreds of years. That being
Countries have been implementing policies in attempts to manipulate their currencies relative value since the emergence of a global economy for hundreds of years. That being