Central Bank Intervention a 21st Century Version of Smoot-Hawley Tariff?

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The meeting of the Asia-Pacific Economic Cooperation (APEC) group in Singapore may provide an opportunity to reflect on the direction that the U.S. Administration is now taking in international relations and economic affairs. Despite talk of a strong U.S. dollar by Treasury Secretary Timothy Geithner during his trip to Asia, as well as President Barrack Obama’s comments while in China, events surrounding APEC may be instructive for understanding the potential for the further currency devaluation, a slower global economic recovery, and higher gold prices.

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