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
29
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] 【C16】
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
look under the hood
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3295196.html
相关试题推荐
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
Sincetheenergycrisis,thesebigcarshavebecomearealliability.Theycost
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
U.S.jobgrowthwassurprisinglystrongin2018,butdon’texpectthattoha
Weexpressourdeepestmourningforthedeadintheattack,andwestrongly_____
随机试题
下列关于活性污泥法处理系统生物泡沫控制的叙述中,哪几项正确?( )A.增加污泥
当堰(闸)承受双向(顺水流方向和垂直水流方向)荷载时,还应()。A.验算其最
A.甲状腺功能亢进症 B.单纯性甲状腺肿 C.女性青春期 D.妊娠8周以上
某理财规划师在进行客户心理分析时,发现某客户对于办公室环境特点的要求是“喜欢在一
与普萘洛尔诱发或加重支气管哮喘有关的是A.激动支气管平滑肌β受体 B.诱发支气
各种运输方式内外部的各个方面的构成和联系,就是( )。 A.运输系统
人员配置的原理包括()A:同素异构原理 B:能位对应原理 C:互补增值原理
1929年,毛泽东在《关于纠正党内的错误思想》一文中,提出了着重从思想上建党的原
血余煅炭后的作用是A.产生止血作用 B.增强止血作用 C.增强补血止血作用
甲国有企业收购乙民营生物发电公司45%的股份,完成收购后,乙公司总经理李某占股比
最新回复
(
0
)