Instead, too many developing countries have allowed their currencies to become overvalued, relying on booming commodity demand or financial inflows. And they have made little systematic use of explicit industrial policies that could act as a substitute for undervaluation.
Certo, tutti i paesi del mondo non possono deprezzare le proprie valute contemporaneamente, ma le nazioni povere avrebbero almeno potuto passare il “fardello” ai paesi ricchi, dove, secondo la logica economica, dovrebbe essere collocato.