Summary: The Peterson Institute released a new book by Surjit Bhalla entitled Devaluing to Prosperity: Misaligned Currencies and Their Growth Consequences on September 17, 2012. The book analyses the role of currency policy in the development strategies of a number of major developing countries during the postwar period, with a focus on China's recent efforts but with considerable attention to earlier approaches by Japan, Korea, and others. Bhalla concludes that successful development has often been achieved through deliberate currency undervaluation and stresses the need for systemic responses that will prevent deleterious effects on the global economy from such practices in the future. Event audio and video will be available.
