The US-China Exchange Rate Stand-Off
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Case Code: ECON019 Case Length: 18 Pages Period: 2002-2007 Pub Date: 2007 Teaching Note: Not Available |
Price: Rs.300 Organization : - Industry : - Countries : China and USA Themes: Corporate Social Responsibility |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
The international monetary system, as we know it, has been in existence since the 19th century. Prior to 1870, countries adopted different monetary systems such as bimetallism, gold, silver, and inconvertible fiat currencies. After 1870, many countries adopted gold convertibility. Gold was chosen because of its international recognition and its characteristics such as divisibility into standardized units (ounces) and storability. Most importantly, gold was thought to contribute to economic stability. Under the gold standard, each currency was defined in terms of its gold value. The US Dollar, which was unconvertible earlier, became gold convertible in 1879...
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