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
17
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] 【C6】
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
against the tide
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3295186.html
相关试题推荐
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
Theirbeliefinredistributionandcentralplanningrevealsastrongurgetosti
ItwaseventuallytobeovertakenbyanewschoolofthoughtknownasFunctional
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
[originaltext]W:We’veallheardthesaying“Laughteristhebestmedicine.”Ho
[originaltext]Jackie:Andrew,How’syourtoothache?Andrew:It’sgone,thanks,
TheSiliconValleyissituatedin______.A、CaliforniaB、NewMexicoC、FloridaD、A
TheInternetisaninternationalcollectionofcomputernetworksthatallun
子宫增大的原因为A.子宫增大 B.子宫肌细胞肥大 C.足月时子宫动脉变直
教学文言文复习课,教师安排学生总结一次语句中宾语前置的用法。下列例句适合的是(
人类创造的宏观尺度最大的一种城市化空间是()。A.大都市区 B.大都市带
2016年6月6日,某铁矿发生火灾事故。由于该矿和临矿互通,火灾共涉及5个铁矿,
A
安全及劳动卫生规程未对用人单位提出严格要求的是()。 A.执行国家劳
最新回复
(
0
)