Exports: Currency Devaluation Won’t Grow the Economy

by Frank Shostak
Mises.org

A visible weakness in economic activity in major world economies raises concern among various commentators that world economies have difficulties recovering despite very aggressive loose monetary policies. The yearly growth rate of US industrial production stood at minus 1.1 % in October, against minus 0.1% in September, and 4.1% in October last year. In the euro zone, the yearly growth rate of production stood at minus 1.7% in September versus minus 2.8% in the month before and 0.6% in September 2018. In addition, in China the growth momentum of industrial production remains under downward pressure with the annual growth rate declining to 4.7% in October from 5.8% in September and 5.9% in September the year before.

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