It is nonetheless a process that takes time, much more time than a currency depreciation.
The currency war appears to be escalating with even greater currency depreciation, trade restriction, and capital controls.
Other things being equal, currency depreciation puts some upward pressure on inflation, as imports become more expensive.
Even if they do not resort to outright default, they can always achieve partial default through currency depreciation.
During his campaign, Mr. Abe argued that the Yen is overvalued and that currency depreciation is needed to make Japanese exports more competitive.
The currency depreciation and slump in demand have hammered many families' real incomes especially in urban areas but hunger has been less of a problem than feared.
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Investors were awaiting a meeting of Group-of-20 finance ministers in Moscow later in the week, which is expected to confront the issue of deliberate currency depreciation.
Antitrade activists frequently suggest that free trade is a "race to the bottom" and lobby for currency depreciation in order to improve the export position of American firms.
We also bought Sony, a major beneficiary of currency depreciation.
These developing countries often intervene in currency markets to prevent currency appreciation and its negative effects on their balance of trade resulting from currency depreciation and manipulation in other countries.
Ultimately, the real income changes are comparable under the two systems, but the currency depreciation option does not require money wages and benefits to decline, where stickiness leads to unemployment.
If Greece still had its own currency, it would depreciate substantially against other currencies and much of the necessary reduction in Greek real income would take place via that currency depreciation.
Inflation and currency depreciation, for example, are possibilities.
The only difference is that open economies with floating currencies may experience that fall in incomes through currency depreciation and thus higher prices for consumer goods while a closed economy will suffer a decline in wages as expressed in the local currency.
People who had significant money the rich threw their money into the products offered by the financial sector, in that the worst thing to happen to a fortune diligently built up over the years would be to see it frittered away on account of currency depreciation.
Here's the economics bit: if those periphery countries are going to become more competitive, without a currency depreciation, it follows that their domestic prices and wages need to fall, relative to German ones, and their domestic consumption needs to grow more slowly than their net exports.
Initially it prescribed its usual medicine of tough budget tightening but backed off quickly after recognizing that the policy was accentuating the drastic drop in economic output caused by the battering sharp currency depreciation had delivered to the balance sheets of companies and banks that had borrowed abroad.
What would really help the market, and stocks like Canon, whose earnings are largely in foreign currency, is depreciation of the yen.
Then there are all the transactions that take place because investors are trying to ensure the best return on their money relative interest rates, inflation, and the scope for future currency appreciation and depreciation are all factors which influence such decisions.
Most financial observers think that Japan will succeed with its 2% inflation target and the depreciation in the currency will be gradual.
And the local currency's 18% depreciation against the U.S. dollar since the onset of the Asian financial crisis has brought costs way down.
Socialist policies that undermined production and produced shortages of basic food products also fueled inflation, while a depreciation of the currency shortly before Chavez's death promised to worsen those problems.
Not every Chinese citizen is in the position to export cash, so the next best tactic for the nervous is to buy gold, a refuge from plunging property prices and declining stock markets as well as an anticipated depreciation of their currency.
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Newly installed Prime Minister Shinzo Abe has made the depreciation of the currency one of the centerpieces of his controversial economic program, so there are expectations of aggressive tactics from the Bank of Japan, especially now that Masaaki Shirakawa announced on Tuesday his intention to step down early as its governor.
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So any significant repatriation of those funds would cause a significant depreciation in the Brazilian currency, the real.
This adds to a general lack of confidence in the local currency caused by memories of its depreciation during the economic crisis of 2001.
The exception is the U.K., which has somehow escaped international censure despite the biggest depreciation of any major currency perhaps because it has apparently derived so little benefit from it.
Such expansionist monetary policies in and of themselves, in isolation regarding the fiscal policies, ultimately lead to a depreciation in the value of the currencies of emerging countries -- rather they lead to a depreciation in the value of the currency of developed countries, thus impairing growth outlooks in emerging countries.
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In the buyout offer's prospectus, Clarins said currency rates and product development costs could cause year-end earnings before interest, taxes, depreciation and amortization to falls as much as 14.5% from last year.
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