So when China’s currency the yuan was devalued against the US dollar for three straight days in mid-August, the world felt the effects. As CNN put it: “If China sneezes, the world catches a cold.” Why does it matter so much? The exchange rate is the term for the comparison of ...
Money matters, no matter who or where you are. So when China's currency the yuan was devalued (贬值) against the US dollar for three straight days in mid-August, the world felt the effects. As CNN put it: "If China sneezes, the world catches a cold." Why does it matter so much...
…there is no actual evidence (as opposed to bare assertions or anecdotes) that the beneficial ownership reporting regimes in other countries have had any material effect on money laundering or terrorism. …The existing AML regime is extraordinary expensive. The AML regime costs an estimated $4.8 ...
On the basis of international cooperation the gold and currency reserves of some socialist countries can be used to cover the negative balance of payments of other countries by granting them credit in gold or in the necessary currency. Thus, the socialist economic system creates conditions for and...
So, where did the money go? As an old hand in the real estate sector, I'll provide you some possible answers. First, land. Before the wave of defaults across the industry, the land reserves of private real-estate companies were valued at about three times their annual sales, so that ...
in any meaningful sense. The holder who presents them to a Federal Reserve bank has no right to anything except other pieces of paper adding up to the sameface value. The situation is much the same in most other countries. The other major item of currency held by the public iscoin. In...
D.China's economy is healthier than that of other countries. 60. Who will benefit(受益) from the devalued yuan? A. Chinese exporters B. bosses of Asian companies C. travelers to and students in theUSA D. online consumers buying with US dollars 61. According to the passage, which of t...
The reason for this practice has been that in many countries the trade statistics have been based on customs house data, which naturally include insurance and freight costs for imports but not for exports. The authorities have more recently made a point of providing estimates of imports valued ...
Fiat money becomes the token of people's perception of worth, the basis for why money is created. An economy that is growing is apparently succeeding in producing other things that are valuable to itself and other economies. The stronger the economy, the stronger its money will be perceived (...
Other theories of money such as the credit theory suggest that all money has a credit-debt relation so it doesn't matter if money is backed by anything to maintain value. Why Do Modern Economies Favor Fiat Money? Most countries used some sort of gold standard or backing by a commodity bef...