Currency devaluation competition

...Industrial nations such as the United States, Britain, continental European nations, and Japan, which were suffering from the Great Depression, tried to competitively devalue their currencies in order to prevent the worsening of their balance of payments and the increase in unemployment caused by economic downturns, thereby increasing exports and decreasing imports. The competition to devalue currencies was also a competition to export unemployment, and was a policy of impoverishing neighbors. Economic conflict eventually developed into military conflict.

*Some of the terminology used to refer to "currency devaluation competition" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…世界大恐慌に悩むアメリカ，イギリス，ヨーロッパ大陸諸国そして日本など，工業諸国はその国際収支の悪化と景気抑制による失業の増大を防ぐため，自国通貨の為替相場を競争的に切り下げ，輸出を増加させ輸入を減少させようとした。為替切下げ競争は同時に失業輸出競争であり，まさに近隣窮乏化政策であった。経済的対立はついに軍事的衝突へ発展した。…

※「為替切下げ競争」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報