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
25
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] 【C14】
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
government reserve holdings
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3295194.html
相关试题推荐
Asthefederalgovernmentshutdownapproachesthetwo-weekmark,it’sbecome
Asthefederalgovernmentshutdownapproachesthetwo-weekmark,it’sbecome
Asthefederalgovernmentshutdownapproachesthetwo-weekmark,it’sbecome
Asthefederalgovernmentshutdownapproachesthetwo-weekmark,it’sbecome
Asthefederalgovernmentshutdownapproachesthetwo-weekmark,it’sbecome
Mr.Simpson’sbookbecomeshisquesttouncovertheirhistory,________withthen
Likehumans,ratscanalsobecome________todrugsandunabletoextricatethemse
[originaltext]TheGlobalPositioningSystem(GPS)hasbecomeindispensable
[originaltext]TheGlobalPositioningSystem(GPS)hasbecomeindispensable
[originaltext]TheGlobalPositioningSystem(GPS)hasbecomeindispensable
随机试题
AsInternethavebeenquitepopular,somearguethatpeople’sproblem-so
A.sensibleB.comprehensiveC.readilyD.incaseE.sensitiveF.passi
[originaltext]W:IwanttoasktheJohnsonstocometotheparty—doyouknowth
经济计量分析的工作程序依次是( )。A.设定模型、检验模型、估计模型、改进模型
下列名项中表述有误的一项是A、《战国策》是战国时游说之士的策谋和言论的汇编西汉
关于建设工程索赔成立条件的说法,正确的是()。A:导致索赔的事件必须是对方的
引起支气管扩张的主要原因是A:先天性发育缺陷 B:支气管、肺组织的感染和支气管
渗透定价策略主要有( )。 A.高质高价 B.高质中价 C.中
常见模板中,具有制作、拼装灵活,适用于外形复杂或异形混凝土构件及冬期施工的混凝土
某能源集团控股煤矿是由甲省煤矿企业兼并重组整合工作领导组办公室批准的资源整合煤矿
最新回复
(
0
)