The world may not be engaged in a currency war yet, but it is engaged in a growth war.
With domestic demand in most home countries anemic to moderate, the universal objective is growth by exports.
Unfortunately, countries doing battle in the growth-by-exports wars end up skirmishing in the foreign exchange markets. That's because every country that wants to export its goods and services wants them to be relatively cheap compared to its global...
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Why the Japanese Yen Has Triggered Global Concern
The Japanese government was criticized for deliberately weakening the Japanese yen by German Chancellor Angela Merkel during a question-and-answer session following a speech at the World Economic Forum in Davos, Switzerland.
"I can't say I'm completely free of worry when I look at Japan right now," Merkel said, according to Bloomberg News.
Michael Meister, a senior member of Merkel's Christian Democratic Union who will be meeting...