{"id":2999,"date":"2014-12-14T12:31:51","date_gmt":"2014-12-14T17:31:51","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2999"},"modified":"2014-12-14T12:31:51","modified_gmt":"2014-12-14T17:31:51","slug":"the-return-of-currency-wars-by-nouriel-roubini-project-syndicate","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2999","title":{"rendered":"The Return of Currency Wars by Nouriel Roubini &#8211; Project Syndicate"},"content":{"rendered":"<p><a href=\"http:\/\/www.project-syndicate.org\/commentary\/world-government-reliance-monetary-policy-by-nouriel-roubini-2014-12\">The Return of Currency Wars by Nouriel Roubini &#8211; Project Syndicate<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin: 0px;\" data-line-id=\"526c7337cc3b49a19b45612d58f083ad\">NEW YORK \u2013 The\u00a0<a style=\"box-sizing: border-box; color: inherit; text-decoration: none;\" href=\"https:\/\/www.boj.or.jp\/en\/announcements\/release_2014\/k141031a.pdf\" target=\"_blank\">recent decision<\/a>\u00a0by the Bank of Japan to increase the scope of its quantitative easing is a signal that another round of currency wars may be under way. The BOJ\u2019s effort to weaken the yen is a beggar-thy-neighbor approach that is inducing policy reactions throughout Asia and around the world.<\/p>\n<p style=\"box-sizing: border-box; margin: 0px;\" data-line-id=\"3a9e0336373045d2a9c4a165dc8ff6a4\">Central banks in China, South Korea, Taiwan, Singapore, and Thailand, fearful of losing competitiveness relative to Japan, are easing their own monetary policies \u2013 or will soon ease more. The European Central Bank and the central banks of Switzerland, Sweden, Norway, and a few Central European countries are likely to embrace quantitative easing or use other unconventional policies to prevent their currencies from appreciating.<\/p>\n<div class=\"ad-container-embedded medium-rectangle\" style=\"box-sizing: border-box; height: 250px; width: 300px; float: right; position: absolute; top: 0px; right: -320px; z-index: 0; margin: 20px 0px 20px 20px;\">\n<div id=\"Mpu\" style=\"box-sizing: border-box;\">\n<div id=\"google_ads_iframe_\/298083\/main_site\/ns_article_1__container__\" style=\"box-sizing: border-box; border: 0pt none initial;\"><iframe loading=\"lazy\" id=\"google_ads_iframe_\/298083\/main_site\/ns_article_1\" style=\"box-sizing: border-box; vertical-align: bottom; border: 0px initial initial;\" src=\"http:\/\/www.project-syndicate.org\/commentary\/world-government-reliance-monetary-policy-by-nouriel-roubini-2014-12\" name=\"google_ads_iframe_\/298083\/main_site\/ns_article_1\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<p style=\"box-sizing: border-box; margin: 0px;\" data-line-id=\"94148b473480442cbc724b891e56d20a\">All of this will lead to a strengthening of the US dollar, as growth in the United States is picking up and the Federal Reserve has signaled that it will begin raising interest rates next year. But, if global growth remains weak and the dollar becomes too strong, even the Fed may decide to raise interest rates later and more slowly to avoid excessive dollar appreciation.<\/p>\n<p><span class=\"Apple-style-span\" style=\"font-family: 'Copyright Klim Type Foundry 400', Arial, sans-serif; line-height: 25px; color: #000000; font-size: 16px;\"><span style=\"box-sizing: border-box;\"><br style=\"box-sizing: border-box;\" \/>Read more at http:\/\/www.project-syndicate.org\/commentary\/world-government-reliance-monetary-policy-by-nouriel-roubini-2014-12#sbgdimz14CWVVMDs.99<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Return of Currency Wars by Nouriel Roubini &#8211; Project Syndicate. NEW YORK \u2013 The\u00a0recent decision\u00a0by the Bank of Japan to increase the scope of its quantitative easing is a signal that another round of currency wars may be under way. The BOJ\u2019s effort to weaken the yen is a beggar-thy-neighbor approach that is inducing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[57,124,1098,1917],"class_list":["post-2999","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-japan","tag-central-banks","tag-currency-wars","tag-nouriel-roubini"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2999"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2999\/revisions"}],"predecessor-version":[{"id":3000,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2999\/revisions\/3000"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}