Friday, May 31, 2013

Currency manipulation and trade agreements

In trade policy circles currency manipulation, undervaluation as well as exchange rate mismanagement are not strictly seen as issues that are to be dealt by the multilateral trading system, especially the WTO.I have blogged about it here, here and here

I was struck by this Reuters report of currency manipulation issues making its way into regional trade agreement negotiations.
"Nearly 200 U.S. lawmakers have signed a letter urging President Barack Obama to insist on new rules against currency manipulation in a proposed trade agreement with Japan and 10 other countries in the Asia-Pacific region. 
"As the United States continues to negotiate the Trans-Pacific Partnership, it is imperative that the agreement address currency manipulation," the letter said, according to a copy obtained by Reuters on Thursday."
Currency issues gradually making their way into international trade law and policy?


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They've got their own practices and ideals that many come across evidently in their sounds. Garth Brooks springs to mind immediately.

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Tiru said...

Yeah, coming from US, it sounds so nice. They will call their QEs Keynesian stimulus and call others manipulators. Fair world!