| ID | 105051 |
| Title Proper | Currency wars |
| Other Title Information | who is to pay the crisis exit fee |
| Language | ENG |
| Author | Butorina, Olga |
| Publication | 2011. |
| Summary / Abstract (Note) | Currency Wars
27 march 2011
Olga Butorina
Who is to Pay the Crisis Exit Fee?
Olga Butorina is a Doctor of Economics, professor, head of the European Integration Department, Advisor to the Director of the MGIMO University of the Russian Foreign Ministry, and a member of the Board of Advisors of Russia in Global Affairs.
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Resume: The tools available to the world community to try to resolve the currency dispute between the United States and China are very limited. Under a favorable scenario the conflict will remain latent, and under the worst-case scenario it will result in the overall growth of protectionism. Much will depend on how well Western countries can reduce the level of public debt. At the second turn of the debt crisis it will go geopolitical.
See also
The reckless West
Fyodor Lukyanov
Russia's Accession to the WTO: External Implications
Alexei Portansky
When the Dust Settles
Fyodor Lukyanov
Towards a Unified Innovative Market
Vladimir Yevtushenkov
The "Third Cycle": Is Russia Heading Back to the Future?
Kirill Rogov
"Today, as in the past, when economic and financial problems worsen, they upset the social balance, undermine democracy, weaken trust in institutions, and can degenerate into war, civil or foreign…"
Dominique Strauss-Kahn, IMF Managing Director, December 8, 2010
In the 1990s the International Monetary Fund, acting on a tip from the United States, strongly recommended that countries with economies in transition should peg their exchange rates to strong and stable world currencies - in fact, the U.S. dollar. Fixed exchange rates minimized the currency risks of foreign investors and thus promoted the influx of foreign capital, especially into the countries of Southeast Asia. |
| `In' analytical Note | Russia in Global Affairs Vol. 9, No. 1; Jan-Mar 2011: p76-90 |
| Journal Source | Russia in Global Affairs Vol. 9, No. 1; Jan-Mar 2011: p76-90 |
| Key Words | Currency ; International Monetary Fund ; IMF ; Peace Negotiations |