The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy
With so much going on in the global economy and financial markets, the dollar’s strong recent appreciation has attracted less attention than what would have been expected given the historical experience.
On paper, the appreciation of the currency of the world’s most resilient economic performer should help adjustments in the global economy. It helps boost the exports of weaker countries while alleviating inflationary pressures in the US by lowering the cost of imports.
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