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
9
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] 【C9】
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
large and deep financial markets
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3295189.html
相关试题推荐
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
Thepolicedepartmentcameunderstrongcriticismforboththedeathofanunarm
His________ingamblinghaseventuallybroughtabouthisruin.A、indulgenceB、habi
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
Teachersofcross-culturalcoursesshouldhelpthestudentstobecome________to
随机试题
[originaltext]W:WhatdoyouthinkofTV?Ithinkitisafalsegod,adangerou
业务管理人员在对工作底稿复核时,应将以下哪项确认为缺陷?A.在工作底稿的备忘录中
(2019年真题)下列关于资产评估法律制度体系的说法中,正确的是( )。A.资产
急性左心衰竭的体征是()。A.强迫侧卧位 B.咳大量铁锈色泡沫痰 C.皮肤
急性胰腺炎腹痛患者应禁食、禁水的时限是A.1~3天 B.36小时 C.24小
国内安全保卫工作是在党和政府的领导下,紧紧依靠群众,以秘密的侦察手段和公开的斗争
下列有关上市公司董事会秘书的表述中,正确的是()。A.董事会秘书可以代表董事长
投资项目决策分析与评价的基本要求包括贯彻落实科学发展观、资料数据准确可靠和()
10.5kV母线持续工作电流为()。 A.3299A;B.3464
根据《建筑工程建筑面积计算规范》GB/T50353-2013,建筑面积的计算,
最新回复
(
0
)