Currency war-myth and reality

Japan continues to drive down the value of Yen. Given Asian economies rely on exports, competitive devaluations continue in the region. Asian currency devaluations are accompaning continual devaluations of British Pound,  American Dollar and Euro. These devaluations are not only an attempt to conjure export led growth, in an attempt to beat recession,but also to reduce overall government debt overload. Watching currency movements it seems Central Banks are rotating currency devaluation. This musical chair devaluation defeats the main objective of competitive devaluation.
Long term currency debasement is supported downward as all fiat loses value in the long term. This is the reality of fiat money systems. This tragedy is worsened by the myth of 'competitive devaluation'.