Capital Controls, Not Global Accords, Touted As the New Fix for Currency Volatility

From Real Time Economics:

Currency volatility is one of the many symptoms of—and threats to—the global economy’s long malaise.


But unlike former days when exchange-rate pressures risked tearing up
economies, currency accords are becoming anachronistic in some key
policy circles. Capital controls, long anathema in the West, are
now touted as the policies du jour.


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