This document discusses competitive devaluation and currency wars. It defines competitive devaluation as countries competing to lower their exchange rates to boost domestic industry and exports. While currency interventions can stimulate trade, a "currency war" provides few real economic benefits and can deter investment and trade. The document outlines some political and economic factors driving currency tensions and considers advantages and disadvantages of currency wars.
A currency war refers to a situation where a number of nations seek to deliberately depreciate the value of their domestic currencies in order to stimulate their economies. In this presentation we discuss the basic aspects, features of currency war, currency devaluation. We also cover the impact of currency war of affluent nations on Indian economy
This presentation is about the devaluation of Indian currency with all major concepts and issues regarding devaluation discussed in it. Basically, Devaluation refers to a reduction in the external value of a currency in terms of other currencies. Here we are particularly talking about the Devaluation of Indian Currency (Rupee) against Foreign Currency(Dollar). Refer to the slides for further details.
Rupee depreciation is a major issue in the current scenario. After the global economic crisis in 2008-2009, the Dollar has recovered due to measures taken by the US government. Unemployment, lack of projects, inflation, bulk imports and poor exports etc have led to the fall of rupee tremendously. The faulty government policies, and the political and economic instability have led to a decline in the economy of India.
A currency war refers to a situation where a number of nations seek to deliberately depreciate the value of their domestic currencies in order to stimulate their economies. In this presentation we discuss the basic aspects, features of currency war, currency devaluation. We also cover the impact of currency war of affluent nations on Indian economy
This presentation is about the devaluation of Indian currency with all major concepts and issues regarding devaluation discussed in it. Basically, Devaluation refers to a reduction in the external value of a currency in terms of other currencies. Here we are particularly talking about the Devaluation of Indian Currency (Rupee) against Foreign Currency(Dollar). Refer to the slides for further details.
Rupee depreciation is a major issue in the current scenario. After the global economic crisis in 2008-2009, the Dollar has recovered due to measures taken by the US government. Unemployment, lack of projects, inflation, bulk imports and poor exports etc have led to the fall of rupee tremendously. The faulty government policies, and the political and economic instability have led to a decline in the economy of India.
This Presentation deals With:
What is a Current Account ,
Current Account Balance
Deficit In Current Account Balance.
Current Account Deficit In India,
Causes for Current Account Deficit,Impact Of Deficit,
India's Position.etc
Impacts of the Russia-Ukraine crisis on global and regional markets. Focus on...David Laborde
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Presentation on the impact of Russia and Ukraine on global and regional markets with a focus on Mena countries.
David Laborde and Joe Glauber. March 6th.
Please check https://www.slideshare.net/DLabordeD/impacts-of-russiaukraine-crisis-on-global-food-markets for a stronger emphasis on global markets and Ukraine situation.
This gives u a clear idea about Inflation and its measures to control such factors which causes inflation and Phillips curve which explains an inverse relationship between income and unemployment that prevail in the economy.
This Presentation deals With:
What is a Current Account ,
Current Account Balance
Deficit In Current Account Balance.
Current Account Deficit In India,
Causes for Current Account Deficit,Impact Of Deficit,
India's Position.etc
Impacts of the Russia-Ukraine crisis on global and regional markets. Focus on...David Laborde
ย
Presentation on the impact of Russia and Ukraine on global and regional markets with a focus on Mena countries.
David Laborde and Joe Glauber. March 6th.
Please check https://www.slideshare.net/DLabordeD/impacts-of-russiaukraine-crisis-on-global-food-markets for a stronger emphasis on global markets and Ukraine situation.
This gives u a clear idea about Inflation and its measures to control such factors which causes inflation and Phillips curve which explains an inverse relationship between income and unemployment that prevail in the economy.
For a class assignment on the 2007-08 economic crisis. We focused on the idea of a "Shifting Economic Position" as the major reason for the crisis (as per assignment) - Leave a comment if you download, please!
China being the second largest force after USA, devalued their currency.
Chinese Currency - Yuan
Devaluation Rate = 15 โ 20%
Devaluation made by last August โ15
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https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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3. Definition
โข Competitive devaluation
โ Condition in international affairs where countries
compete against each other to achieve a relatively
low exchange rate for their home currency
โข Help their domestic industry.
โข Dollar Vs. BRIC
โข China, India and Russia, along with Iran and members
of the Shanghai Co-operation Organization took early
steps to use their own currencies for trade, rather than
the dollar.
4. More Political than Economic
โข A "currency war" is more of a political than an economic condition.
โข Governments frequently intervene in their currency markets. They
increase the money supply to stimulate trade and reduce
unemployment; or they decrease the supply to combat inflation.
โข When China keeps the YUAN artificially low versus the U.S. dollar, it
keeps the cost of Chinese goods low in the United States,
contributing to a Trade Imbalance.
โข This provides a steep incentive for the United States to retaliate by
lowering its currency as well. Of course, because two countries can
only have one exchange rate, this race to the bottom isn't likely to
benefit either party.
6. After Effects
โข Unstable exchange rates can deter international investment,
hence slowing the pace of global economic recovery.
โข Currency wars can have secondary Political effects. When
countries are fighting over currency, they're less likely to
agree to bilateral trade. Additionally, currency pressures could
make China less likely to go along with U.S. efforts to contain
Iran or North Korea.
โข Unlike real wars, currency wars don't have defined start dates,
but they can be ended with something like peace treaties.
8. โข Why Asia saves?
โ Major Wars after WWII were fought in Asia
โ Major famines have been faced by Asia
9. โข Why the US does not?
โ No Wars since the 1940s
โ Major supplier of arms
โ Never seen famines
โข Has been a donor to 3rd world countries during famines
10. โข Asia Invested Its Surplus In Rainy-day funds
โ Abu Dhabi Investment Authority
โ Saudi Arabia Investment Authority
โ HK Monetary Authority
โข Rainy-day Funds Invested In US Treasury Bonds in
order to stay liquid
โข Even Before The Debt Crisis Of 2008 , The Wealth
Funds Of China And The Middle East Heavily
Invested In The US Dollar And Treasury Bonds
11. โข The US spends the intakes just as quickly
โข The spending as a percent of the GDP spiraled
12. โข The Money Supply jumped from $ 4.5 Trillion
in 2000 to over $ 8.5 Trillion in 2010
13. โข Added spending ๏ did not create more jobs
โข Created volatility in oil prices
โข It drove up US housing prices and created a
huge market for sub-prime mortgages
โ Eventually collapsed and brought about a world
wide credit crisis
โข Also, it drove up food prices
โ Commodity index sky-rocketed
โข $ 15 billion in 2003 ๏ $ 317 billion in 2008
14. โข More money in speculative ventures
โ US banks stopped lending to SMEs
โข Lending rates are low unlike emerging economies
โข Job market suffered & economic revival became difficult
โข THEN, Western investors came to Asia
โ BRIC felt the first rush
โ South Korea, Taiwan also witnessed the same
โ Resulted in huge $$ cash flow into the country
โข Resulted in huge domestic currency appreciation
โ Inflation resulted
ยป Increased interest rates to contain it
ยป Resulted in more liquidity from US markets
โข Brazil was one of the first few countries to slap a 2%
Tax on Investment on Stocks and Bonds (Not on FDI)
โ Both stock markets and the Real nosedived for some time
15. โข Though the US Economy was slow, the
emerging economies kept buying US Treasury
bonds and the Dollar to keep it strong
โ Prime reason
โข Keep the $ strong &
โข the oil and commodity prices under control
โ Ensured sustained exports to the US
โ Ensured lesser volatility in the currency markets
โข The US budget deficit kept on increasing
โ Huge difference in exports & imports
17. IMPLICATION of CURRENCY WAR
Failure to Cooperate
Countries make export goods
competitive
Protectionism on Trade
Printing of Dollars by Fed
US is Import driven now
20. Positive Implications of Currency
Wars
1. Competitive Devaluation : When a country tries to devalue its currency to increase its international
competitiveness.
2. Economic Growth
If the dollar becomes weaker, exports become cheaper leading to an increase in demand for US exports.
This can help to increase AD and improve the rate of economic growth. This may be important, because
problems in the US housing market are threatening the rate of economic growth. Falling house prices are
potentially reducing consumer spending, therefore, a rise in exports could help to boost economic growth
and prevent any move towards a recession.
3. Balance of Payments
The US has a large current account deficit (7% of GDP) therefore a devaluation will help to improve and
reduce the current account deficit. However, a devaluation alone is unlikely to solve the problem.
4. Inflation
A devaluation may lead to increased inflationary pressures for 3 reasons:
1) Increase in exports causes rising AD and therefore could lead to demand pull inflation.
2) Imported goods will be more expensive. American consumers would definitely experience a rise in price
for many imported manufactured goods and imports of raw materials could increase costs of business.
3) It is argued a devaluation reduces the incentive, for manufacturers and exporters, to cut costs and
become more efficient.
21. 5. Countries need to do it to simply survive at the moment :
The overwhelming fact of the global currency system is that America needs a much
weaker dollar to bring its economy back .
Asian investment in plant has run ahead of Western ability to consume. The debt-
strapped households of Middle America, or Britain and Spain, can no longer drive
their economy. They need the help of Asian nations to do so. Japan to avoid a
deflationary crisis, China to hold together a political order that is more fragile than
it looks.
6. Import and Export Imbalance
A country with a higher valuated currency will get more imports while a country
with a low evaluated currency will export a lot.
The devaluation of consumer market currencies will lead to producer countries
having to improve their domestic consumption and achieve a balance between
export and import.
22. 7. Political Compulsions:
The American political powers cannot go on like this. In a country ravaged by recession and looking
at potential ruin in the face of an increasingly bleak employment situation, it needs to create jobs,
even if it is not the most economically sound thing to do. No government will be able to survive
without it. These new employment opportunities need to be created, if nothing, to pacify and
improve the American populaceโs situation.
24. The other viewโฆโฆโฆ
Disadvantages Of Currency war
โขNOT AN IMMIDIATE SOLUTION (As most people tend to see it as)
o A rapid revaluation will not have a large and immediate positive effect on the American
economy
o Positive effect will be offset, in part if not in whole, by the negative impact on the Chinese
economy
o Rebalancing should take pace gradually, through nominal exchange rate adjustments and
complementary structural adjustments on both sides
โขEMPLOYEMENT BUBBLE
o US and the European major economies can sustain the devaluation and drive their own
employment opportunities .
oAs a short term option China will devalue its own Yuan (which would happen otherwise as well) and
go back to the previous situation .
oUS market will be flooded with very cheap Chinese products leading to another downturn in the
economy and loss of all those newly created jobs.
25. โข HARM TO BILATERAL TRADE
o Solutions to their problems lie in working together and not in fighting guerilla wars
o A negative impact on bilateral trade
o Hamper the development and implementation of mutually beneficial economic and trade
policies
โข POLITICAL RAMIFICATIONS
o World cannot afford a conflict between major powers like US and China.
27. โข Issues
โ Role of Exchange rates
โ Spillover from policy choices
โข Within rich world
โข Between rich & poor world
โ Emerging economies
โข Distinguish between permanent & temporary surge in
capital inflows
โ In General
โข More harmony is required
28. โข Issues (contโd)
โ General consensus
โข Global rebalancing
โ Systematic Analysis of exchange rate adjustments
โ Assessment of spillovers in policies
โ QE can work beyond exchange rate
โข โAvoidance is Blissโ
29. โข Major Solution
โ Financial Transaction Tax
โข Keeps speculation under control
โข Curbs Short-time Investors
โ Have to pay tax for every exchange
โข Long-time investors
โ Will only be taxed once