The depreciation of the U.S. dollar has been gathering momentum; global financial markets must adjust to this trend. Our European allies worry about the impact on their own economic growth and the prospects for Asian economies are little better.
What has caused the dollar’s decline? How can the U.S. balance payments without unduly disrupting financial markets? Will Germany win its battle with deflation? Will the Chinese renminbi withstand pressure from a depreciating dollar? What are the ramifications for Japan?
