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RE: free trade: a debate



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> Date: Tue, 20 Feb 2001 18:25:44 -0800 (PST)
> From: "Raju Agarwal" <krantikari@hotmail.com>
> To: debate@indiapolicy.org
> Subject: RE: free trade: a debate
>
> The value of a nation's currency is a function of the global demand
and
> supply for that currency.
>
> For example, Japan's currency appreciated rapidly during the 80's as
the
> whole world was addicted to Japanese electronics and cars.  China's
currency
> was strong during the 90's, including the Asian crisis, thanks to its
> booming exports.  America's currency has been strong, because its
equity
> markets attract capital from all over the world.
>
> Conversely, India's currency has been losing its value because of
India's
> chronic trade deficit, fiscal deficit, government borrowing, etc.

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