Currency Wars
The Making of the Next Global Crisis
(Paperback)

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Currency Wars: The Making Of The Next Global Crisis explains the currency wars carried out by countries to gain economic advantages, and the possible chaos that could result if this tactic is not curtailed soon. Summary Of The Book Currency War is a tactic used by countries to stimulate their economy. It is the practice of a government devaluing its own currency, which results in a lower exchange rate for that currency in the global market. When this happens, the price of exports from that country goes down, and price of imports increase. This can help the growth of domestic industries and can also result in generating more jobs. This tactic is called a currency war because the other countries could retaliate by devaluing their own currency too. This is the subject of this book, Currency Wars: The Making Of The Next Global Crisis. It examines the financial tactics employed by governments to gain power and dominance, one of which is competitive devaluation of currencies. The author analyzes the major currency wars of the past, the consequences, and the crisis that could be generated by letting the current currency war escalate to unmanageable proportions. In 1971, President Nixon was forced to take extreme measures to end the currency war that had been going on for sometime. He took the US off the Gold Standard and also enforced price control measures. All this was done to revive the US Dollar as the devaluation tactics had negatively impacted the faith in that currency. The author says the the current currency war, in which China is a major player, could have worse consequences. In the current scenario, where all regions of the word are facing an economic downturn and are trying desperately to save their own economies, this tactic could escalate out of proportion and result in global chaos. The author points out that previous major currency wars have always ended badly. He questions the validity of this tactic as a practical financial measure to help a country’s economy. It only provides short term benefits and then results in long term problems as other countries indulge in similar policies to boost their own economies. Currency Wars: The Making Of The Next Global Crisis also looks at the failure of economists and governments to perceive the weaknesses of this tactic and the major problems it could trigger. It explains the possible results this could have, effects that could last for several decades. About James Rickards James Rickards is economist and investment banker. He has also written another book, The Death of Money: The Coming Collapse of the International Monetary System. James Rickards has an M.A. in International Economics. He studied at the University of Pennsylvania Law School for his Juris Doctor degree. From the New York University School of Law, he has an LL.M in Taxation. He has over 35 years of experience in Wall Street and he lent his expertise to help the US National Security. He is currently with Omnis, Inc. as the Senior Managing Director for Marketing Intelligence. He lives in Darien, Connecticut.

International economics has witnessed currency wars which have led to serious crisis situations globally.

Currency Wars: The Making Of The Next Global Crisis takes the readers back to the late 1960s and early 1970s crisis, when the then President of US, Nixon, imposed price controls to end the currency war. Currency crisis has negative impacts like disturbance in the economic cycle, loss of faith in the prevalent economic system, abnormal inflationary and recessionary trends, and economic collapse. It needs to be controlled in order to avoid disastrous consequences.

The ghosts of past currency wars are still haunting the world, and there is another war on its way, the impact of which could be much more deadly. In Currency Wars: The Making Of The Next Global Crisis, the author throws light on the fact that if lessons from past actions are not adopted and implemented, the US could face its worst crisis ever.

The author highlights the psychology behind the working of public policies, and emphasised the importance of a balanced and constructive course of action. The reprint edition of this book was published by Penguin USA in 2012, and is available in paperback format.

AuthorJames Rickards
BindingPaperback
EAN9781591845560
EditionReprint
ISBN9781591845560
Height840 mm
Length540 mm
Width80 mm
Weight62 g
LanguageEnglish
Language TypePublished
MPNIllustrations
Number Of Items1
Number Of Pages320
Package Quantity1
Part NumberIllustrations
Product GroupBook
Publication Date2012-08-28
PublisherPenguin USA
StudioPenguin USA
Sales Rank4404

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General information about Currency Wars: The Making of the Next Global Crisis
  • The author associated with Currency Wars: The Making of the Next Global Crisis is James Rickards.
  • The EAN for Currency Wars: The Making of the Next Global Crisis is 9781591845560.
  • The edition for Currency Wars: The Making of the Next Global Crisis is Reprint.
  • The ISBN for Currency Wars: The Making of the Next Global Crisis is 9781591845560.
  • The height for Currency Wars: The Making of the Next Global Crisis is 840 mm.
  • The length for Currency Wars: The Making of the Next Global Crisis is 540 mm.
  • The width for Currency Wars: The Making of the Next Global Crisis is 80 mm.
  • The weight for Currency Wars: The Making of the Next Global Crisis is 62 g.
  • The language for Currency Wars: The Making of the Next Global Crisis is English.
  • The MPN (Manufacturer's part number) for Currency Wars: The Making of the Next Global Crisis is Illustrations.
  • The binding of Currency Wars: The Making of the Next Global Crisis is Paperback.
  • The number of items for Currency Wars: The Making of the Next Global Crisis is 1.
  • The number of pages for Currency Wars: The Making of the Next Global Crisis are 320.
  • The quantity for Currency Wars: The Making of the Next Global Crisis in a package is 1.
  • The part number for Currency Wars: The Making of the Next Global Crisis is Illustrations.
  • Currency Wars: The Making of the Next Global Crisis is grouped in Book group of products.
  • The publication date for Currency Wars: The Making of the Next Global Crisis is 2012-08-28.
  • The publisher for Currency Wars: The Making of the Next Global Crisis is Penguin USA.
  • The producer for Currency Wars: The Making of the Next Global Crisis is Penguin USA.
  • The sales rank for Currency Wars: The Making of the Next Global Crisis is 4404.