Commentary / World Jan 25, 2013
The unloved dollar standard
The role of the U.S. dollar as international anchor is faltering as emerging markets grow increasingly frustrated by the Fed’s near-zero interest-rate policy.
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The role of the U.S. dollar as international anchor is faltering as emerging markets grow increasingly frustrated by the Fed’s near-zero interest-rate policy.
LONDON -- Pressure on China today to push up the value of the yuan against the dollar is eerily similar to the pressure on Japan 30 years ago to make the yen appreciate. Back then, "Japan bashing" came to mean the threat of U.S. ...