Basic economics, our current account deficit at 6% of GDP is not good. A freely floating exchange rate will cut imports and boost exports so narrowing our deficit.
Basic economics, our current account deficit at 6% of GDP is not good. A freely floating exchange rate will cut imports and boost exports so narrowing our deficit.
Originally Posted by Ominous Gamer
You keep repeating that but you are missing the point that in order for your country to start exporting more it needs to actually produce more. And it's not exactly like your central bank can do much to fan investments.
The only given from the present devaluation is that you are getting poorer, the recovery from it is very much pie in the sky. Especially if you want to bring it about when the message you want to give to the rest of the world that you are open for business. Because that means competing with the likes of China and India
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Congratulations America
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