Currency War Turns Stimulus War as Brazil Surrenders

Currency War Turns Stimulus War as Brazil Surrenders

Tomohiro Ohsumi/Bloomberg

Pedestrians walk past a currency exchange store in Narita City, Chiba Prefecture, Japan. Nobel Prize-winning economist Paul Krugman calls the currency war a “complete misconception” and says the monetary expansion is in keeping with the mandates of central banks and should benefit global growth.