Chapter 678: Currency War

Arthur had not been reveling in the progress made with transport planes for long before a major news burst out of Europe.

In fact, this news was somewhat expected. Since the onset of the economic crisis, many countries, including the UK, US, Germany, Italy, Australia, Island Nation, and France had suffered considerable financial losses. Apart from the special case of Australasia, France was the country least affected by the economic crisis.

This seemed rather peculiar. After all, in terms of population and economic scale, France could only be considered middle to upper tier among the Powers. Why then was it less impacted by the economic crisis?

Mostly, this was the result of France implementing a strategy of substantial currency devaluation.

Firstly, currency devaluation would wildly stimulate exports, continuously generating more jobs, pulling up people's consumption level, thereby stimulating the growth of internal demand.