World Currency: The U.S. Dollar

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David Wessel, economics editor for The Wall Street Journal, writes: "Weaker Dollar Is No Elixir for Economy."

Quick snippet:

The logic, drawn from textbooks, is that a decline in the dollar will make U.S. exports cheaper for foreign customers, so they will buy more, and will make Asian exports more expensive, so the world will buy less. It's no magic elixir.