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
65
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] 【C8】
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
is the same size in GDP
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3295188.html
相关试题推荐
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
Theirbeliefinredistributionandcentralplanningrevealsastrongurgetosti
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
Weexpressourdeepestmourningforthedeadintheattack,andwestrongly_____
随机试题
Whattimeisitnow?[br][originaltext]F:What’sthetimebyyourwatch?M:It
Whenyouweresixyearsold,youhad20teeth.Thesearecalledmilk-teeth.
Some,parentsaresendingtheirpreschoolagechildrentotakeforeignl
[originaltext]W:Cometomyhouseifyoucanbetherebefore11o’clock,Mike.
WestPointisacollegeforfutureArmyofficers.Ithasmorethan4000stu
在下面关于RISC指令系统不正确的表述是()。A.选取使用频率低的一些复杂指令,
A.耐受性 B.抗药性 C.躯体依赖性 D.精神依赖性 E.其他依赖性连
某城市处于平原地区,城中有两条河流汇集,并有两条铁路在此交汇。该市下辖四县两区,
下列关于我国民主党派和无党派人士的说法,不正确的是()。A.工商联不属于民主
依据《安全生产事故隐患排查治理暂行规定》,事故隐患排查、治理和防控的责任主体是(
最新回复
(
0
)