What does deflation look like?

All the…confusion and distress in America
arise, not from the defects in the Constitution...
not from want of honor or virtue
so much as from downright ignorance
of the nature of coin, credit and circulation

John Quincy Adams  

  

 If foreign manufacturing and commodity exporters
exchange US dollars received for goods with their central banks
for increasing supplies of local currency,
and an effect of emerging economies printing too much money
causes local prices to rise,
is there a correlation between the US dollar
and inflation in emerging economies,
and should the US dollar relatively strengthen
as the quantity of less developed currencies expand
and decline in percieved safety faster?