been characterized by strong government intervention in currency markets. Were it not for that, their industry would be wiped out at the face of a brexit-sized currency move.
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Akio Morita, founder of Sony, argues very convincingly that freely traded currencies cause too much volatility in exchange rates for export manufacturers to consistently earn a return on investment, putting entire industries at risk. It's no coincidence that China's rise has...
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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Couldn’t the volatility issue be solved by the manufacturers buying futures / hedging?
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That's a good point. I'm embarrassed to have not thought of that. How much does it cost to lock in a currency for year at up to $1 million?
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