The Big Mac index
Currency wars: the burger's verdict
WASHINGTON, DC
AN OLD beef is again dividing the world of international finance: the spectre of "currency wars". Jens Weidmann, the head of Germany's Bundesbank, recently fretted that central-bank efforts to revive flagging economies could lead to an "increasing politicisation of exchange rates". Bill Gross of PIMCO, a huge bond-fund manager, reckons the world is entering a spiral of competitive devaluations reminiscent of the 1930s, as economies anxious for growth massage their currencies downward to give exporters a boost. What does burgernomics have to say?
{sent via i5}
No comments:
Post a Comment