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
43
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
认为利率是由商品市场与货币市场同时实现均衡条件决定的经济学派是()A.古典经
非国家所有的但对国家和社会具有保存价值的或者应当保密的档案,在向社会出卖时,应由
()是指预先分析目标偏离的可能性,并拟定和采取各项预防性措施,使计划目标得以
城镇燃气加臭剂应符合下列要求,说法错误的是()。A.加臭剂和燃气混合在一起后
以Boyden小室法能检测A.中性粒细胞的定向运动能力 B.中性粒细胞的吞噬调
下列畸形不是功能矫治器的适应证的是A.Ⅰ类错 B.Ⅱ类1分类错 C.Ⅱ类2分
下列不是构建退休规划的首要目标的是()。A.过理想的生活 B.退休后财务自由
关于氯丙嗪的叙述正确的是A.本品结构中有噻唑母核 B.氯丙嗪结构稳定,不易被氧
若进口设备采用装运港船上交货价,则卖方的责任有( )。A.负责租船订舱,支付运
A
最新回复
(
0
)