Do We Need a Plaza Accord 2.0?
![Do We Need a Plaza Accord 2.0?](https://webapi.project-syndicate.org/library/24539d3870724e4ba6baf26956e9608d.16-9-xlarge.1.jpg)
The dollar and the yen, now coupled with the renminbi, are in a situation that recalls the 1980s, which has led some politicians to consider creating a Plaza Accord 2.0. Instead, they should focus on the benefits provided by flexible exchange rates.