Rus News Journal

In world economy there comes a new phase of currency wars

the USA can enter sanctions against the countries, is artificial underestimating a rate of national currency. The corresponding bill which experts named Antichinese, on Tuesday the Congress lower chamber will discuss. Other countries, however, too do not disdain similar measures in the conditions of world economy restoration, analysts mark.
the new phase of currency war between the USA and China today can begin. In the House of Representatives consideration of the bill which will allow to enter sanctions against the countries which it is artificial is planned underestimate a rate of national currency for export support. The law obviously Antichinese, and it not the first attempt to press to Beijing, has told FM the deputy chief dilingovogo the centre Forex Metallinvest bank Sergey Romanchuk.

The obvious country on which the bill is directed, China is, - ascertains Romanchuk. - the History of pressure of the USA as the main trading partner of China, on purpose to force it to strengthen currency, goes already long enough. The given bill is one more chord in this melody. As to other countries, on which this bill, maybe, would be turned if to follow as an example Russia it in general at all so. Because in Russia pursue a policy of a free rouble exchange rate .

China is not lagged behind also by other developing countries. Even what tried to struggle until recently with such ways of stimulation of export, the chief of analytical department FOREX CLUB Andrey Dirgin is assured of it.

a Number of other developing countries - a bad example to China, - is considered by an analyst. - in particular, Brazil. And Central Banks take great pain to support a low course of national currencies. It is caused by a phase of restoration of world economy. All countries want, that their economy looked more competitive and that export stimulated growth in the country. Certainly, it is necessary to recognise that in world economy there comes a new phase of currency wars

the Essence of any so-called currency war, or competitive devaluation, - artificial understating of a rate of national currency to support export. It allows to protect home market from import and to raise competitiveness of national business. Most actively competitive devaluation in own interests use the USA and China.

most known example currency war the Chinese yuan exchange rate renminbi is, more known as yuan. In 1990 - e years Beijing has adhered yuan to US dollar that became the reason of the American deficiency in bilateral trade. Washington in the answer has demanded yuan revaluation.

Washington in 1985 managed to spend a similar combination. Then the USA, Germany, Japan, Great Britain and France have signed so-called the agreement in Plaze regulating the international market Forex. As a result by 1987 yen and dojchmarka have become stronger to dollar more than on 50 %.

Now leaders currency wars name the USA and China. However other world does not lag behind them. Still one year ago the head of the Brazilian Ministry of Finance Guido Mantega named most malicious manipulators Japan, South Korea, Colombia and Thailand. Brazil achieves, that the WTO has equated manipulations with rates of exchange to the latent export grants.


the Round of currency wars has begun the American Congress. If the bill of sanctions for course understating is accepted, the American companies can demand increase of import duties, referring to the underestimated yuan exchange rate as on a grant to the Chinese manufacturers.