The Specter of Protectionism World Faces New Wave of Currency Wars

An American bill imposing punitive tarifs on countries that undervalue their currencies is set to unleash a new trade war between the US and China. But in fact the whole global currency system is in a state of jeopardy. As confidence in the dollar drops, private investors are putting their faith in gold. By SPIEGEL Staff.
The US accuses China of undervaluing its currency.

The US accuses China of undervaluing its currency.

Foto: PETAR KUJUNDZIC/ REUTERS
Translated from the German by Paul Cohen
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