Barclays: These Advanced Economies Need More Currency Depreciation to Offset the Commodities Crash
Competitiveness is just a crashing currency away.
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The hangover from the end of the commodity supercycle has wreaked havoc on a number of advanced economies.
Barclays’s foreign exchange research team found that Australia, Canada, Norway, and New Zealand have been victims of a “Dutch Disease pandemic during the recent commodity boom.”