The term "currency war" is sometimes used with meanings that are not related to competitive devaluation.

Yet competitive devaluations cancel each other out; they lead only to inflation.

I'll tell you, taking us back to the 1930s, an era of competitive devaluations.

They share the argument that such actions amount to protectionism and competitive devaluation.

The most recent policy is almost the opposite of "competitive devaluation."

But that policy only remotely resembled "competitive devaluation," which is what went on in the 1930's.

Worry instead that competitive devaluations create the potential for trade wars.

The competitive devaluation, and low interest rates can only help, but rebuilding an industrial base is hard.

It is much less so than the competitive devaluations that prevailed before the transition to the euro.

You told us that the single currency would provide a solution to the problems of competitive devaluation.