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Brazilian Finance Minister Guido Mantega, who made headlines when he raised the alarm about a currency war in September 2010. Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies.
It was estimated that approximately 1 million $ worth of counterfeit currency was put into circulation each year in the middle of the 1920s. The sokol affair prompted Czechoslovak police to establish police unit specializing in countering money counterfeiting in Prague while also seeking cooperation with neighboring countries. [2]
The German currency was relatively stable at about 90 marks per dollar during the first half of 1921. [7] Because the Western Front of the war had been mostly fought in France and Belgium, Germany came out of the war with most of its industrial infrastructure intact, leaving it in a better place economically than neighbouring France and Belgium ...
With hindsight, the conference was rather successful at defining a set of general principles for postwar stabilization around shared aspirations to fiscal discipline, free trade, and sound monetary policy led by independent central banks, a "standard of financial orthodoxy" [4]: 22 on which the delegates reached a remarkably broad consensus. [5]
One example of a modern tariff war occurred in the 1920s and 1930s between the Weimar Republic and Poland, in the German–Polish customs war.The Weimar Republic, led by Gustav Stresemann wanted to force Poland, by creating an economic crisis by increasing the tolls for coal and steel products developed there, to give up its territory.
Kipper und Wipper (1618–22) financial crisis at the start of the Thirty Years' War; Tulip mania (1637) an economic bubble that burst, though it did not harm the economy of the Dutch Republic. [2] The General Crisis (1640s) Arguably the largest worldwide crisis in history [opinion]
During the Second World War, Germany established fixed exchange rates between the Reichsmark and the currencies of the occupied and allied countries, often set so as to give economic benefits to German soldiers and civilian contractors, who were paid their wages in local currency. The rates were as follows:
In May 2011, a second sequel, Currency Wars 3: Financial High Frontier (Chinese: 货币战争3：金融高边疆), was published by Yuan-Liou Publishing (ISBN 978-9573267843). It discusses more specifically modern Chinese history, from Chiang Kai-shek to the depreciation trend of the U.S. dollar in the long term, seen from a currency war ...