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
42
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] 【C16】
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
look under the hood
解析
转载请注明原文地址:http://tihaiku.com/zcyy/3295196.html
相关试题推荐
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
Weexpressourdeepestmourningforthedeadintheattack,andwestrongly_____
随机试题
Doweneedlawsthatpreventusfromrunningriskswithourlives?Ifso,th
Anarmyspokesmanclaimsthemilitantsare_______therun.A、inB、offC、onD、aft
下列属于国际旅游中跨国旅游类型的是()。A.香港人到台湾旅游 B.内地人到
高层建筑分区给水方式有3种,但其中一种的缺点是:(1)对技术层要求较高、需防振动
房屋结构中,()不可以视为杆件。A.梁 B.柱 C.墙 D.檩条
下列的乙类传染病中依法采取甲类传染病预防控制措施的是A.肺炭疽 B.伤寒 C
共用题干 DreamsEveryonecandream.Indeed,e
某男,39岁。肢体关节、肌肉酸楚,重着,疼痛,肿胀散漫,关节活动不利,肌肤麻木不
关于留置的说法,不正确的是()。A.留置权不得通过合同的约定产生 B.留置权以
电力系统电压偏移计算公式为( )。
最新回复
(
0
)