What does this game look like with a fixed money supply and no trade or movement restrictions? My naive Econ 101 guess is that wealthier nations would export more, not less, and higher value goods. Why does inflation work to produce a trade surplus? It seems that the only reason is decreasing internally-sourced costs like labor, but this just props up obsolete value chains instead of promoting capital innovation. Does this work long-term? Also, in a game with one inflator, how does that turn everybody else into a leisure services economy without a whole bunch of inflationary distributive spending on their part as well? It would seem that the fixed-supply result would look like deflation plus capital excess, which is perfect for investment in new industries. It seems to me that maybe Germany is in roughly this situation whereas the US/Japan/etc can manage money supply according to political will, so a larger portion of productivity is diverted to leisure services and structural inefficiency. Also, is Chinese currency manipulation an economic success story? What would we see with a free market fixed currency in China?