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" ... The smell I'm referring to isn't grapeshot or cordite. It's the stench of decaying international relations as nations begin to mimic the "beggar thy neighbor" policies that swept the globe in the wake of the passage of the Smoot Hawley Tariff Act of 1930. The popular press has dubbed these competitive devaluations "currency wars" and if they are allowed to play out unimpeded, there is a danger that rising protectionist sentiment could seriously impede international trade and thereby weaken global growth. Even as they accuse others of manipulative practices, nations are increasingly taking steps to weaken their own currencies in a bid to boost exports. ... "