Relations between the US and China are heating on the currency front. Here’s an amusing rap song about currency wars:
Thanks to Jamie for the tip.
The low value of the Chinese yuan is on the agenda for a long time. China is enjoying strong growth and skipped a recession. American politicians are getting frustrated with China’s competitive advantage. The value of the yuan is one of the main triggers of the “currency war”. The currency war is high on the G-20 agenda beginning now.
No big agreement is expected in Seoul, but statements made around the event can shake the markets.
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