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The Road to Trade War Runs Through QE, Currency

By Nouriel Roubini

The rising risk of currency and trade wars around the world stems from a game of competitive devaluations most economies are now playing. These tensions have the following source: over-spending countries—such as a the U.S. and other adherents of the “Anglo-Saxon model”—over-leveraged themselves, running current account deficits for the last…

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