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
21
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] 【C12】
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
on paper
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3295192.html
相关试题推荐
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
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
Teachersofcross-culturalcoursesshouldhelpthestudentstobecome________to
Weexpressourdeepestmourningforthedeadintheattack,andwestrongly_____
随机试题
[originaltext]W:Isitpossibletomakeacomfortablelivingfromarttoday?I
估算建设投资后需编制建设投资估算表,为后期的融资决策提供依据。按概算法分类,建设
以下关于资本的边际效率递减规律的表述正确的是()。A:资本的边际效率是使得预期收
蛋白质的消化酶主要来源于()A.小肠 B.胆囊 C.胃 D.肝脏
下列各项属于集体资产所有权界定范围的有( )。 A.集体所有的土地
()年秋季,中小学阶段各起始年级的学生原则上都将进入新课程。A.1999 B.
对认知结构迁移理论作出重要贡献的心理学家有()。 A.奥苏伯尔B.班杜拉
以下属于创造性思维特征的有()。 A.敏感性B.流畅性 C.灵活性D.
呈扁片状,背部有黄白色或灰绿色斑点散在,足趾底面具吸盘的是A.僵蚕 B.蛤蚧
公司在创立时首先选择的筹资方式是( )。A.融资租赁 B.向银行借款 C.
最新回复
(
0
)