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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.
The Currency War of 2009–2011 was an episode of competitive devaluation which became prominent in the financial press in September 2010. It involved states competing with each other in order to achieve a relatively low valuation for their own currency, so as to assist their domestic industry.
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 ...
In it, he argued that currency wars are not just an economic or monetary concern but a national security concern. He maintained that the United States faced serious threats to its national security, [ 12 ] from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds , and that greater than any single threat was the ...
Currency intervention, also known as foreign exchange market intervention or currency manipulation, is a monetary policy operation. It occurs when a government or central bank buys or sells foreign currency in exchange for its own domestic currency, generally with the intention of influencing the exchange rate and trade policy.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets.
A currency crisis is a type of financial crisis, and is often associated with a real economic crisis. A currency crisis raises the probability of a banking crisis or a default crisis. During a currency crisis the value of foreign denominated debt will rise drastically relative to the declining value of the home currency.