The U.S. has initiated the QE war.
China, Japan, the U.K, some euro-zone countries and Korea may join the QE crowd.
The bubbles and industrial competitiveness are the major culprit behind the currency devaluation.
Resorting to QE to hold down their currencies may be the only option for some countries, if the U.S. continues on the QE path.
It’s not just the financial/economic war. It has to do with national sovereignty.
One has to look into each country’s political economy, along with global financial institutions and MNCs to understand the state of the world economy.
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