ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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GUJARAT- Young Turks Take a Hand

The world is naturally more concerned with Nixon's international policy measures. The dollar has been subjected to speculative pressure during the last two years and, by de-linking it from gold, Nixon has tried to take the heat off it. By this measure Nixon has in effect thrown the onus on all the other countries to adjust their exchange rates vis-a-vis the dollar, implying that everybody is out of step except the dollar. Yet the main objective of the exercise is to bring Japan to heel, particularly to put pressure on it to revalue the yen.

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