So a manufacturing economy benefits from a devalued currency, while a consuming economy prefers a stronger currency.
Yet, our leaders don’t seem to mind a devaluing dollar. I’ve read this in several commentator reports. Also heard that a lower dollar will finally increase our exports, so again, it’s a positive development.
“The Treasury Department has suggested it won’t stand in the way of a weaker dollar as it has refrained from protesting the currency’s slide, said George Kapasakis, a senior trader at Mizuho Corporate Bank in Sydney.”
