Global Economy

Out of context: Reply #17

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  • JSK0

    mikotondria3

    Look at devaluation of currency in larger countries or even smaller countries. Russia triggered massive economic down turn. Asian financial crisis did the same.

    They were both bailed out by the western countries. Now that the western countries are in the down, there really is no one willing to help. China is just hoarding for themselves (gold, natural resources etc).

    Devaluing currency is fine for short term but long term, the devaluation can take an accelerated pace.

    The US is playing the same game as what the big banks did. "Too big to fail". US feels that if they fail, the global economy will pretty much fail and it has been failing. China will lose it's biggest export partner.

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