The easy money policies of the US and Japanese central banks are inspiring worried talk of “currency wars”. The fear is that newly printed dollars and yen will flood into fast-growing emerging markets, driving up their currency values, undermining their exports and creating local asset bubbles. In this analysis, emerging market leaders are fighting in vain to hold back a destructive tide.
美聯準和日本央行的寬鬆貨幣政策引發關於「貨幣戰爭」的討論，人們擔心的是，新印的美元和日元將湧入快速成長的新興市場，推升這些國家的幣值，打壓它們的出口，導致當地資產出現泡沫。按照這種分析，新興市場領導人正在徒勞地抵禦一股具有破壞性的洪流。
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