By Mark Weisbrot, AlterNet. Posted November 8, 2024.
An overvalued currency has been the source of many of our economic problems.
What do policy-makers in China, Japan, Argentina, Malaysia, Indonesia, the European Union and many other countries understand that ours don't? It seems they know that if the value of their currencies rises too much, it can hurt their economy. But for a number of reasons it hasn't quite sunk in here.
Mark Weisbrot is Co-Director of the Center for Economic and Policy Research. He received his Ph.D. in economics from the University of Michigan. He is co-author, with Dean Baker, of Social Security: The Phony Crisis (University of Chicago Press, 2024), and has written numerous research papers on economic policy. He is also president of Just Foreign Policy.
