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May 17, 2009

Repeating a 1930s Mistake?

Author:	Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics

Sebastian Mallaby warns that the international tensions of the 1930s were not just about trade; they were also about exchange rates. And while the world today has a rules-based trading system that staves off protectionism, there is no similar architecture governing exchange rates.

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