G20 pledges to hold back from currency warfare

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  • 0

    semperfi

    All these veiled euphenisms - ------and no one dares na,r the biggest 'Enfant Terrible' - CHINA.........................................Though truth be told, uSA & Britain have been printing money to balance their econonicc equation long before Abe-nomic hit the scene...............................So the G20 had no option but to deliver an obfuscated statement .

  • 0

    waltery

    This announcement gives me do much relief. But I still fear the social experiment is seeking a way to slow global economic groth in turn reducing demand for CO2 producing material , and whale.

  • -3

    herefornow

    The jitters—similar to previous disputes with China—have been set off by Japan’s plan of monetary easing to boost inflation and activity by reducing the value of the yen under new Prime Minister Shinzo Abe.

    Wonderful. Abenomics has managed to drag Japan down to the level of China in the eyes of the G20. I sure hope it all works, and Japan isn't taking this major hit to its international reputation for nothing.

  • 4

    paulinusa

    ... “only the market determines the level of this or that currency",...

    Believe me, every country is plotting what their next move is.

  • 2

    linro

    Japan has been in deflation and resection for over 15 years because they do things by the book, devaluing the yen is the only way out of the global economic mess that the USA started! The Japanese government needs to get the yen to the 150 mark. The USA IS BROKE! because of so called professionals and experts ( Iraq remember ) if the yen does go to 150 it's because of the experts not seeing futures like a blind man selling reading glasses to the blind!!

  • -1

    paulinusa

    "The USA IS BROKE!"

    Nonsense.

  • 0

    globalwatcher

    Japan-yada, yada, yada......

    G20-rolling up sleeves for their next move.

    Believe me, every country is plotting what their next move is.

    Yep. They are already thinking ahead of Japan.

  • 0

    Serrano

    "Nonsense"

    The USA is now in debt to the tune of $16.5 trillion. That's way worse than just broke.

  • 2

    Serrano

    For those who are concerned that a weakening of the yen ( say, to around 100 yen to the dollar ) would mean increased gasoline /energy prices, gosh, how did Japanese ever buy gasoline or any imported goods when the yen was 240 to the dollar as recently as 1985?

  • 0

    globalwatcher

    gosh, how did Japanese ever buy gasoline or any imported goods when the yen was 240 to the dollar as recently as 1985?

    Let's hope it will not. If it goes to 240, everyone should get panicked.

  • -2

    hkitagawa

    Japan against the west and east? Well, it is just a small country half of the size of Ukraine but companies there need to survive. That will be bad for the world if there is no longer Sony and other inovative companies.

  • 0

    Flyfalcon

    Lower Yen make some J export is cheaper. However weaker Yen will make imported commodities more expensive. Nippon steel needs to import iron ore from Australia or Brazil. If Yen is low against those nations currencies imported iron ore will be more expensive.

    If iron ore is more expensive, production cost of steel will be higher. Therefore low Yen is not everything is wine and rose for Japan. If steel is more expensive, cars, water heater and machinery which are made with steel will be more expensive. It is also true for rare earth which have to import from PRC.

  • 0

    habibu

    its just a move to make money fundamentalism and rolls are not exited any way at all. in fx

    from five year i expanding my free time in this filed. and my prediction is in October 2012 its time that yen going back to 94 not more before come back to 87 ~85 . or big instability is coming if it go more up before

    lets see

  • 0

    wtfjapan

    @ pualinusa & Serrano, actually the US when you take into account all the bank guarantees military/ public servant pensions foreign debt, recent estimates say its around $40trillion, this is more than the whole worlds GDP combined!, if you think the US isnt broke or at least bankrupt = (can never pay back what is owed to creditors) then you are just a patriotic American or just a ignoramus!

  • 0

    wtfjapan

    yes true lower yen makes fuel gas resource imports more exensive, but it also makes luxury goods more expensive which in turn makes people buy locally made products, you want a poplulation that buys locally made products that keeps money/jobs in Japan not funding other countries/jobs.

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