首页
登录
职称英语
Despite much loose talk about the new global economy, today’s international
Despite much loose talk about the new global economy, today’s international
游客
2025-03-23
12
管理
问题
Despite much loose talk about the new global economy, today’s international economic integration is not unprecedented. The 50 years before the first world war saw large cross-border flows of goods, capital and people. That period of globalization, like the present one, was driven by reductions in trade barriers and by sharp falls in transport costs, thanks to the development of railways and steamships. The present surge of globalization is in a way, a resumption (恢复) of that previous trend. The earlier attempt at globalization ended abruptly with the first world war, after which the world moved into a period of fierce trade protectionism and tight restrictions on capital movement. During the early 1930s, America sharply increased its tariffs, and other countries retaliated (报复) , making the Great Depression even greater. The volume of world trade fell sharply. International capital flows virtually dried up in the interwar period as governments imposed controls to try to insulate (隔离) their economies from the impact of a global slump.
Capital controls were maintained after the second world war, as the victors decided to keep their exchange rates fixed on arrangement known as the Bretton Woods System, named after the American town in which it was approved. But the big economic powers also agreed that reducing trade barriers was vital to recovery. They set up the General Agreement on Tariffs and Trade (GATT), which organized a series of negotiations that gradually reduced import tariffs. GATT was replaced by the World Trade Organization (WTO) in 1995. Trade flourished.
In the early 1970s, the Bretton Woods System collapsed and currencies were allowed to float against one another at whatever rates the markets set. This signaled the rebirth of global capital market. America and Germany quickly stopped trying to control the inflow and outflow of capital, Britain abolished capital controls in 1979 and Japan (mostly) in 1980. This is part of the reason why continental Europeans tend to worry more about the power of global capital markets. America has been exposed to them for much longer.
Two forces have been driving these increased flows of goods and money. The first is technology. With the costs of communication and computing falling rapidly, the natural barriers of time and space that separate national markets have been falling too. The second driving force has been liberalization. As a result of both the GATT negotiations and unilateral (单方面的,单边的) decisions, almost all countries have lowered barriers to foreign trade. Most countries have welcomed international capital as well. [br] The global capital market didn’t flourish until______.
选项
A、the Bretton Woods system was established
B、the Bretton Woods system collapsed
C、GATT was set up to reduce import tariffs
D、GATT was replaced by WTO
答案
B
解析
细节题。关于资本市场的复兴是在第三段中讲到的。20世纪70年代初期,布雷顿森林体系崩溃,货币得以浮动,标志着全球资本市场的复兴。因此B是正确答案。
转载请注明原文地址:https://tihaiku.com/zcyy/4009806.html
相关试题推荐
BenjaminFranklinwasAmerica’sfirstinternationallyfamousswimmerandswi
BenjaminFranklinwasAmerica’sfirstinternationallyfamousswimmerandswi
BenjaminFranklinwasAmerica’sfirstinternationallyfamousswimmerandswi
Globalclimatechange,oftenseenasaprocessstretchingoverthousandsof
Globalclimatechange,oftenseenasaprocessstretchingoverthousandsof
Globalclimatechange,oftenseenasaprocessstretchingoverthousandsof
Ifacountrywantstodevelopitseconomysuccessfully,therehastobeaclear_
Despitemuchloosetalkaboutthenewglobaleconomy,today’sinternational
Asyouhaveseen,thevalueofanation’scurrencyisaofitseconomy.A、reactio
Despiteacoolingoftheeconomy,hightechnologycompaniesarestillcrying
随机试题
Thecompanyformulatedapackageof______forassessmentofemployees’performa
Infaceofglobalwarming,muchefforthasbeenfocusedonreducinggreenhou
[originaltext]Germany’sRhineRiverishundredsofmileslong,butnotall
简述化妆的目的和意义。
B
关于《桃花扇》的描述,表述正确的是()。A.《桃花扇》是中国四大古典名剧之一
有关药物的首剂用量的叙述正确的是A、首剂用量因医生习惯而异 B、一般药物均需首
生长发育遵循的规律正确的是A、由远到近 B、由细到粗 C、由简单到复杂 D
土地储备贷款的借款人是()。A:负责土地一级开发的机构 B:房地产行政管理部门
下列哪种情况不易发生气体栓塞A、胸部外伤和手术 B、锁骨下静脉外伤 C、胎盘
最新回复
(
0
)