All Quiet on the Currency Front

The term “currency wars” is a catchy way of saying “competitive devaluation,” and, in the wake of the sharp fall in the value of the yen, the issue is certain to top the agenda at the G-8’s upcoming summit in Northern Ireland. But should it?

CAMBRIDGE – The term “currency wars” is a catchy way of saying “competitive devaluation.” In the wake of the sharp fall in the value of the yen over the last six months, owing to the monetary component of Japan’s efforts to jump-start its economy, the issue is expected to feature prominently on the agenda at the G-8’s upcoming summit in Northern Ireland. But should it?

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