Currency battle begins
I recorded the video segment below on on RT America on Wednesday night (Notice my green tie for St. Patrick’s Day!). The overall gist of the clip was that the currency battle now brewing between China and the U.S. is mostly a political confrontation. There are reasonable ways out of this that don’t include a trade war – that is if politicians choose to not to politicize the debate.
At the end of clip, I mention the Triffin Dilemma in which the US domestic agenda is at odds with the natural current account deficit that the US Dollar reserve currency role creates. For more on this, see my last post. The clip runs just over 5 minutes.