首页
登录
职称英语
Was it envisioned for the euro to eventually become such a strong currency t
Was it envisioned for the euro to eventually become such a strong currency t
游客
2023-12-22
51
管理
问题
Was it envisioned for the euro to eventually become such a strong currency that it could compete with the dollar on a global level? Or was that a dream then and【C1】______now? I think it was an attainable dream, and it is becoming actually, in some ways, 【C2】______. You may ask, Why?
Well, the dream to give credit【C3】______was not only advocated by some European officials but by【C4】______, including our Institute’s director, Fred Bergsten, who was【C5】______with that. Richard Portes, who teaches at London Business School, also was way out in front with that. And they were very much【C6】______of people like Martin Feldstein and others in London and the United States who were【C7】______. At face value, the euro area 【C8】______as the United States, roughly speaking. The euro area does have very【C9】______, although the more you look in detail, there are still some things there that【C10】______. And the euro area has delivered price stability. They have a 【C11】______pretty consistently. So you put those three things together,【C12】______it looks like the euro should be at least【C13】______to the dollar in investors’ portfolios, in【C14】______, in how much you invoice trade like oil or planes or things like that.
But【C15】______in this book—in particular in good chapters by Kristin Forbes and Linda Goldberg—is the fact that if you 【C16】______a bit, there is a huge shortfall between what you would expect just based on size and how much【C17】______. So there’ s an awful lot of trade that’s【C18】______, not in euros, even between countries that are not dollar countries. There are【C19】______that come to the United States, and the depth of European assets and financial flows is【C20】______. [br] 【C12】
Was it envisioned for the euro to eventually become such a strong currency that it could compete with the dollar on a global level? Or was that a dream then and is it still a dream now? I think it was an attainable dream, and it is becoming actually, in some ways, less attainable right now. You may ask, Why?
Well, the dream to give credit where credit is due was not only advocated by some European officials but by some American economists, including our Institute’s director, Fred Bergsten, who was way out in the front with that. Richard Portes, who teaches at London Business School, also was way out in front with that. And they were very much against the tide of people like Martin Feldstein and others in London and the United States who were very skeptical toward the euro.
At face value, the euro area is the same size in GDP as the United States, roughly speaking. The euro area does have very large and deep financial markets, although the more you look in detail, there are still some things there that differentiate it from the United States. And the euro area has delivered price stability. They have a very low rate of inflation pretty consistently. So you put those three things together, on paper it looks like the euro should be at least a very clear second to the dollar in investors’ portfolios, in government reserve holdings, in how much you invoice trade like oil or planes or things like that.
But what our research finds in this book—in particular in good chapters by Kristin Forbes and Linda Goldberg—is the fact that if you look under the hood a bit, there is a huge shortfall between what you would expect just based on size and how much the euro is used. So there’s an awful lot of trade that’s still invoiced in dollars, not in euros, even between countries that are not dollar countries. There are huge amounts of financial flows that come to the United States, and the depth of European assets and financial flows is not commensurate with the size.
选项
答案
on paper
解析
转载请注明原文地址:http://tihaiku.com/zcyy/3295192.html
相关试题推荐
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
Thepolicedepartmentcameunderstrongcriticismforboththedeathofanunarm
TheUnitedNationshadastrong________towagingawarinIraq.A、objectB、object
Ifyouareanathlete,strongabdominalmuscleshelpyouensureastrongbackan
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
Teachersofcross-culturalcoursesshouldhelpthestudentstobecome________to
Weexpressourdeepestmourningforthedeadintheattack,andwestrongly_____
随机试题
AWorldWithoutBooksOrMusicIfbookshadneverbe
泌尿系最常用的辅助检查为()。A.CT B.IVP C.KUB D.B
为预防腰麻的血压下降,最好先肌内注射A.麻黄碱 B.以上均不适宜 C.异丙肾
无形资产分成率的高低通常与对应产品的销售利润率的大小有关的企业类型是( )。A.
症见右少腹疼痛拒按,按之其痛如淋,甚则局部肿痞,或右足屈而不伸,伸则痛剧,小便自
(共用题干)患者,男,35岁。心脏骤停初期复苏成功。但患者意识不清,心电图示三度
根据《城乡规划法》的规定,下列关于对城乡规划的权力机关的监督内容表述中不符合规定
自动控制系统输出量的实际值与希望值之差指的是()。A.偏差信号 B.误差
在一定条件下热轧钢筋接头可采用绑扎连接,这些条件是()。A、钢筋直径≤22mm
在正常使用条件下,以下关于建设工程最低保修期限的说法,符合《建设工程质量管理条例
最新回复
(
0
)