Given the fact that more people are in the goods sector, the human aspects of the exchange rate management should not be lost sight of. Therefore, the Dutch Disease syndrome has so far been managed by way of reserves build-up and sterilisation, the former preventing excessive nominal appreciation and the latter preventing higher inflation.
So far, I have been describing trade as shipments of tangible goods. This is how most people think of it, and my story about globalization and value chains clearly envisioned a complex product, like a car or a smartphone. Tangible goods also include products like oil, nickel, canola, pork or lumber. We sell over $ billion in merchandise to the world each year.