How to Fight Currency Manipulation
Currency manipulation is a real problem that causes significant damage. The Trans-Pacific Partnership – the mega-regional free-trade agreement involving the US, Japan, and ten other countries in Latin America and Asia – may offer the best chance to fix it.
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WASHINGTON, DC – Is it appropriate to use trade agreements to discourage countries from using large-scale intervention in the foreign-exchange market to hold down their currencies’ value? That is the question of the day in American economic-policy circles.