Déjà Vu

• Today we hear similar things.

• But this time it is the not the US deficit but the depreciated dollar.

• The depreciated dollar has meant that imports from Europe are much more expensive in countries fixed or related to the dollar.

• This includes a number of currencies in Asia and the Middle East.

• All the Gulf states of the GCC, and China, Hong Kong, Thailand, Philippines, Malaysia and many more.