International relations - Essay Example

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International relations

This paper discusses the currency war that has been in the center of discussions of the major economic powers of the world in the context of international relations and the impact of policies and actions by the different parties on the global economy and the global political order. The discussions relating to the currency war cannot but take on a heavy slant in economics and economic policy, even as one cannot argue that trade is a major force that knits or destroys relationships among nations, something that has been discussed in much detail in many theoretical discussions in international relations. The latest round of efforts by the major powers in particular by the United States and Japan has been hailed as efforts that have come to be identified with a budding currency war. For instance, efforts to keep interest rates low are in keeping with the two country economies’ interests in spurring borrowing and economic activity from such lowered interest rates, but the net effect of the actions tied to this have been a downward pressure on their currencies, leading to a currency devaluation in practice if not in direct fact. The consensus even among the major central banks in Europe is that indeed the currency war is at hand, with Japan, for instance, deliberately setting the stage for a weaker yen on the back of announcements to pump massive amounts of liquidity, to the tune of US 1.4 trillion dollars, into the Japanese economy for the next 24 months. This has led to the yen depreciating by 14 percent after the announcement versus the US dollar. ...
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This paper discusses the currency war that has been in the center of discussions of the major economic powers of the world in the context of international relations and the impact of policies and actions by the different parties on the global economy and the global political order…
Author : wymanalden

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