I think it all started with the game China has been playing on the world which is: "We'll just keep our Chinese currency devalued at about 40% below its actual value and no matter what you other nations say we're going to keep it at that level."
The problem with this is what the world is now experiencing. No one can compete with China as long as it bends or breaks international laws and continues doing this. So, now we are seeing almost all western nations and others trying to find ways to devalue their currencies because they just can't compete with China in any way, shape or form any other way.
However, alarm bells are going out all over from bodies like the IMF and World Bank. However, as long as China doesn't correct it's devaluation problem the rest of the world has no choice but to follow suit to compete and to (stay in business) on the global stage.
So, at this point it is like every nation is a corporation trying not to go completely bankrupt because of what China has been doing all along.
State Capitalism appears to be winning in the loaded dice category of worldwide business.
There are two word buttons below that are related articles that I wrote.
The Sadness of Middle and Lower Class Investors
Gold
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