Six years past the trough of the Great Recession, it feels to many as if the aura of crisis still haunts the global economic landscape. China’s slowdown, thankfully not a hard landing, has been more protracted than many expected.
Henry Kissinger’s recent, monumental World Order traces the course of nation state relationships as launched by the Treaty of Westphalia in 1648, stressing the need to maintain a peaceful, rules-based system of sovereign states.
Currency manipulation has risen to prominence because 78 senators have linked it to presidential authority to negotiate the Trans-Pacific Partnership (TPP) trade agreement. This linkage is nothing new, however, and an understanding of its historical context is important for charting the U.S.