I will tell you right now that the first victim of the currency war initiated by the Japanese has succumbed. India has a massive banking crisis the biggest in their history and this will begin to affect the Asian Tigers ( Malaysia, Indonesia, Thailand, Vietnam, Philippines) The down turn in those respective economies will affect China and the entire ASEAN group as well as Australia and New Zealand.
This will put further stress upon the Global economy as now there no escape for anyone what so ever. The Japanese Seppuku has disemboweled toxicity over the JPY and the carry trades for them.
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