Currency wars could slow recovery
- Latest News
- Wednesday, 20 October 2010
Currencies such as the euro already are being pressured by the emerging currency row between the USA and China and the region's economic recovery is being delayed as other governments try to influence exchange rates to make exports more competitive.
Speaking at the recent World Air Cargo Organisation (WACO) meeting, WACO chairman Wibo Aris said freight forwarding companies had shrunk considerably in the financial crisis and economic downturn, but the first signals of sector recovery had started emerging in the last quarter of last year with an upswing projected.
Trade protectionism was a threat to that recovery, he said.
