The world is on the road to an all-out trade war unless the United States and China stop manipulating their currencies, says Brazilian Finance Minister Guido Mantega.
China and the United States have been tweaking their exchange rates to gain favorable trade advantages as well as to fuel economic growth, disrupting other nations' exchange rates in the process.
The Brazilian real has strengthened considerably recently, which hurts the country's all-important export sector.
http://www.moneynews.com/StreetTalk/FTBrazilThreatensTradeWarAgainstUS-China/2011/01/10/id/382355?s=al&promo_code=B6EE-1
No comments:
Post a Comment