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China Has Officially Joined the Currency Wars
The only thing China had to wait for was the official inclusion into the IMF’s reserve currency basket. Now it can devalue its currency as it pleases—and it may not have a choice.
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Putin’s Plan to Fight Recession in Russia Also Increases Kremlin’s Control of the Economy
The Russian rouble started 2015 in much the same way it finished 2014: badly.
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