Unbalanced Europe
The unwinding of today’s global imbalances – led by revaluation of the renminbi and China’s shift to a growth model based on stronger domestic demand – might be only a matter of time. Europe’s internal imbalances, however, are a much knottier problem.
https://prosyn.org/kPnhKIc
BRUSSELS – The G-20 governments have declared that competitive devaluations (or currency wars) must be avoided. Excessive external imbalances, they also argue, should be monitored and perhaps fought in a coordinated way.