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Investing For A Recession-Free Future | Vincent Deluard on Secularly-High Inflation, China’s Currency Crisis, and The Long-Term Debt Cycle
Forward Guidance
Currency Devaluation and Export Subsidization
Devaluing a currency can effectively subsidize exporters by allowing them to pay employees in weaker currency while earning in stronger currency. This export-friendly approach can lead to significant market performance, as seen in the example of the Istanbul stock exchange. However, a sudden decision to reverse currency devaluation can lead to a sharp appreciation, similar to the Swiss Franc's rise after the Euro peg was dropped. This could result in an overshooting exchange rate adjustment, impacting the Japanese stock market but potentially benefiting those holding the yen.
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