Currency wars: the return of the crisis?

The I.M.F. (international monetary fund) warns global economy for an unequal battle fought by China. Emerging markets such as China have a major competitive advantage by holding their currency on an extremely low level. With the result that they get a tremendous advantage in exports of goods and services which creates a certain tension on the global markets. If China does not appreciate his currency, other countries are forced to follow his example whereby we might arrive in a huge currency war giving the ideal conditions for an other crisis in less than four years.

Bob Dossche  http://www.nytimes.com/2010/10/08/business/global/08imf.html?_r=1&ref=business