And this is what happens when you artificially fiddle the exchange rate so that exporters are hammered by having their revenue slashed and becoming economically uncompetitive whilst importers have access to cheap forex and im ... read full comment
And this is what happens when you artificially fiddle the exchange rate so that exporters are hammered by having their revenue slashed and becoming economically uncompetitive whilst importers have access to cheap forex and import more whilst dropping prices only slightly! The current container ratio for shipping companies is probably around 7 import containers for every 1 export container.
Exports drop, forex revenue becomes fixed on oil, gold and cocoa and the number of eggs in the basket drops.
And this is what happens when you artificially fiddle the exchange rate so that exporters are hammered by having their revenue slashed and becoming economically uncompetitive whilst importers have access to cheap forex and im ...
read full comment