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On Defense, France Bites the Bullet, But Avoids Strategic Insolvency May 7, 2013
Iceland’s Recovery Saga Presents Opportunities for Brussels, Washington—and Beijing May 6, 2013
Which Way Forward for Europe’s Hybrid Regimes? May 2, 2013
The Arab Revolts and the Liberal Order May 2, 2013
Events
GMF celebrates its 40 year history and Founder and Chairman, Dr. Guido Goldman at Gala Dinner May 09, 2013 / Washington, DCGMF held a celebratory gala dinner at the United States Institute of Peace in Washington, Wednesday May 8.
In this podcast, GMF Vice President of Programs Ivan Vejvoda discusses last month's historic agreement to normalize relations between Kosovo and Serbia.
Anchor Elaine Reyes speaks with Andrew Small, Transatlantic Fellow of the Asia Program for the German Marshall Fund, about Beijing's potential role in brokering peace between Israel and Palestine
The Long Currency War
November 12, 2010 / Kati Suominen
Foreign Policy
At the end of the G-20 summit, which limped to its dispiriting conclusion Friday in Seoul, where world leaders managed only to delay dealing with difficult challenges from global imbalances to trade protectionism, South Korean President Lee Myung-bak proclaimed a "temporary end" to the so-called currency wars that have reached a fever pitch over the last two months as countries have manipulated their exchange rates to gain an edge in world markets. The currency wars are far from over.
For years, Washington and Beijing clashed over the value of the renminbi, China's currency, with the U.S. Congress repeatedly threatening tariffs to retaliate against Beijing's currency mercantilism. This policy of containment was not perfect, but it did secure at least token cooperation from the Chinese -- who in 2005 revalued by 2 percent -- while keeping Washington's trade threats from translating into actual barriers.
For full article, please see Foreign Policy Magazine.
