Saturday, April 27, 2013

Chinese citizen sues the US Fed over devaluation!

Currency devaluation is often seen by countries as a tool to boost one's exports by undervaluing one's own currency. While this has not yet reached the doorsteps of the dispute settlement mechanism of the WTO as some have suggested it should, an abnormal case of a Chinese intending to sue the US Federal Reserve (the US Central Bank) for the fall in the value of the US dollar due to monetary easing made for some interesting reading!

The case was reported here and here.

Currency undervaluation does have it's challenges!


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