search query: @indexterm FOREIGN EXCHANGE / total: 493
reference: 72 / 493
| Author: | Hua, Min Feng, Peirong |
| Title: | The Euro shock wave (original in Chinese) |
| Journal: | Journal of Sun Yatsen University (c)
1999 : 2, P.30-39 |
| Index terms: | EURODOLLARS FOREIGN EXCHANGE INTERNATIONAL TRADE EXCHANGE RATES MONETARY POLICY CHINA |
| Language: | chn |
| Abstract: | Before the Euro came into being, the international monetary system maintained the hegemony of the US dollar. Based on the dollar hegemony, the US collected "mintage tax" and "inflation tax" all over the world. To oppose the US dollar (or the US) hegemony, the European Union began their monetary co-operation in the 1960s, and on January 1, 1999 embarked on the road of single currency. To discuss the international impact of the Euro, we must first examine the stability of the Euro. This paper analyzes the scale of economy, the institutions, and the mechanism of adjustment in the Euro countries, and draws the conclusion that, from the long-term point of view, the Euro will be stronger than the US dollar. The paper holds that the initiation of the Euro will result in a new international monetary system with the US dollar and the Euro coexisting. |
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