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
2025-01-12
31
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] 【C14】
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
government reserve holdings
解析
转载请注明原文地址:http://tihaiku.com/zcyy/3909754.html
相关试题推荐
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
Wasitenvisionedfortheeurotoeventuallybecomesuchastrongcurrencyt
随机试题
GNPbecomesanobsoletemeasureofprogressinasocietystrivingtomeetpeo
The______ofelectroniccomputershasopenedupnewwaysofdataanalysisfort
[originaltext]W:It’sawfullydarkfor5o’clock.Doyouthinkit’sgoingtora
A解析本题考点为元素叠加中的黑白叠加。每一串图形中,第三组图形由前两组图形黑白叠加构成。根据前一串可知黑白叠加规律为,黑+黑=黑,白+黑=白,黑+白=白,白
足阳明胃经在大趾旁与何经衔接A.大肠经 B.脾经 C.肝经 D.肾经
简论宪法产生的条件和当代宪法发展的基本趋势。
()是企业还款能力变化的直接反映,银行应定期收集符合会计制度要求的企业财务报表。
某企业为增值税小规模纳税人。该企业购入一批原材料,取得增值税专用发票上注明的价款
(2016年真题)某汽车生产企业主要从事小汽车生产和改装业务,为增值税一般纳税人
下列各项中,属于单方法律行为的有()。A.委托代理的撤销 B.无权代理的追认
最新回复
(
0
)