Sometimes I get asked hard questions. Sometimes I get asked easy questions. Argentina and Brazil simply are not currency manipulators.
1/x
1/x
Argentina has been selling its reserves (to prop up the peso) at such a rapid pace (in the last 3ms of data especially) that it is essentially out of ammunition (it is relying on capital controls to try to stem depreciation pressure)
2/x
2/x
Brazil is running a current account deficit (a growing one ) -- and that in my books is an absolute defense against charges of manipulation.
(it also has been selling its reserves, not adding to them)
3/x
reuters.com/article/us-bra…
(it also has been selling its reserves, not adding to them)
3/x
reuters.com/article/us-bra…
There are a set of close cases (Taiwan, Singapore, Thailand). And I am pretty hawky on "currency" in general. '
But there is no real debate on Argentina and Brazil.
4/4
But there is no real debate on Argentina and Brazil.
4/4
