The country's current foreign-exchange system, which involves a fixed "official" exchange rate that makes the currency, the kyat, more than 100 times as valuable against the dollar as the black-market rate, is so confusing that many foreign companies have refused to re-enter the country even if Western leaders ease sanctions against Myanmar, the country also known as Burma, as expected later this year.

WSJ: Myanmar Announces Currency Reform

By removing the need to accumulate vast foreign-exchange reserves, greater currency flexibility would also create a more stable global monetary system.

ECONOMIST: Charting a different course | The

As seen through the foreign currency exchange, the American still wants a trade deficit for the same reasons she did before in the bartering system.

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