Archive for the ‘reference’ tag
Old Currency Values
Anatomy of the EU Economic Crisis – Lessons for the Euro From China’s Controversial Currency Policy
The European Union’s economic crisis can be best described by the overall market performance of its currency, the euro. The value of the euro is theoretically determined by the overall value of the states who has it as their main currency. However, this factor has gone a notch lower in the economic hierarchy as the foreign currency market took a higher place.
The foreign currency market is highly unregulated arena. Anyone can freely exchange one currency to another, without worrying about strict government control. However, this was seen by many financial experts as a potential haven for investment. Hence, currency speculation was born.
Of all the major economies, only China did not subscribe to the idea of a freely traded currency. Instead, the controlled the Chinese yuan by setting a limit as to how much it can change in value in a given period. Hence, drastic changes on its exchange rates with respect to foreign currencies can be avoided. This has been frowned by most Western economies because it gives China an unfair advantage as it is unnaturally making Chinese exports sell cheaper than they should.
Well, what made it fundamentally wrong?
The problem in this scenario lies is either China’s economic dictatorship, or the West’s financial structuring. It’s basically a debate on which came first – the chicken or the egg. On one hand, here is China that twists the world economic order, and on the other is the West that sticks to the old ways.
Which system– controlled on uncontrolled – works better?
When the EU Economic Crisis hit the rest of the earth, it can be said that China was least affected, of all the major economies. The main reason behind it is its strong control of its own currency, which left little to the imagination of abusive currency speculators. On the other hand, her’s the West, which uses the old system, that crumbled down.
The choice is now between two things: making China conform to the rest of the planet, or make the rest of the planet follow China’s lead. So far, China does a pretty good job, while the West has both hands full.
Now, is it time for change or what?
About the Author
When she is not writing articles on economics, Sammi can be found working in her flower gardens. She plants lantana flowers and many other kinds of flowers in her coconut basket liners!
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2007 George Washington Presidential $1 Coin – First President, 1789-1797 $0.01 2007 George Washington Presidential $1 Coin – First President, 1789-1797…. |
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2012 Handbook of U.s. Coins: Blue Book (Handbook of United States Coins (Paper)) (Handbook of United States Coins: The Official Blue Book) $5.64 The Official Blue Book of United States Coins 2012, Paperback. This guide features grading and collecting tips, mintage records, historical information, and data compiled by more than 50 coin-elite contributors. Lists dealer buy prices, how much dealers will pay for your coins, not retail prices. R.S. Yeoman, Edited by Kenneth Bressett, 256 pages…. |
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