The exchange rates as a tool of economic war in terms of the fundamental imbalances in the global economy

Abstract

The article analyses main reasons for fundamental imbalance of modern world economy, its emergence specifics, manifestation and consequences. It argues the role of exchange rates in the system of imbalances alignment and ambiguity of their influence up to the use as an effective mechanism of monetary and economic wars.
Key words: exchange rate, fundamental imbalance, savings rate, balance of payments, currency war, economy war, IMF, GATT/WTO. JEL Classification: D59, F31, F39, F49, G10, G15, H87.