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Essay代写:World currency

2018-09-29 | 来源:51due教员组 | 类别:Essay代写范文

本篇essay代写- World currency讨论了世界货币。世界货币,就是货币超越国内流通领域,在世界市场上充当一般等价物,执行世界货币职能的货币。世界货币是随着商品生产和交换的发展而产生和发展的。世界货币除作为价值尺度之外,还是国际支付手段、购买手段和财富的国际转移手段。本篇essay代写51due代写平台整理,供大家参考阅读。

World currency,世界货币,essay代写,代写,paper代写

World currency is a currency that transcends domestic circulation and ACTS as a general equivalent in the world market to perform the function of world currency. World currency is produced and developed with the development of commodity production and exchange. In addition to being a measure of value, world currency is also a means of international payment, purchase and wealth transfer.

On the basis of the basic principles of international finance and monetary banking, we can divide the functions of the world currency into four types. This is the essence of the world's currency, which can reflect the price of commodities in international trade. Second, the function of means of payment. It plays a role mainly in the occurrence of mutual debt relations in economic and trade activities between countries and between enterprises of different countries. That is, in the debt relationship of economic and trade activities between countries and between enterprises of different countries, it is usually conducted through mutual offset. For the balance after offset, real currency is used as the final settlement method to pay. The most commonly used functional means of payment in the world currency to balance the trade balance. From the practice of international economy and trade, foreign trade has a two-way nature, that is, each country or region both exports and imports goods, and mainly conducted in the form of credit. Therefore, the world currency then performs the function of international means of payment. Third, the function of purchase means. In other words, when there is no normal credit relationship between countries and enterprises in different countries, economic and trade between the two sides can only use the cash currency settlement method, that is, cash currency is directly used to purchase goods from foreign countries, and it plays the role of international purchase means. In particular, due to the sudden interference and disruption of the balance of normal Commodity Exchange between different countries or regions due to unexpected events, one country or region cannot offset each other and has to directly use a large number of purchase means to purchase goods from other countries or regions. Fourth, transfer means function. When wealth is transferred from one country to another, for various reasons, it cannot or is not suitable to be realized in the form of commodities, and when it is carried out in the form of currency, money ACTS as the embodiment of social wealth and thus realizes the international transfer of wealth. For example, a defeated country pays monetary indemnities to the victorious country, a country or region provides monetary loans to other countries or regions, or the capitalist transfers monetary capital from the country to the foreign country.

From the perspective of international financial history, both gold and silver played an important role in the world's monetary functions in the 19th century. Later, as the gold standard was generally established, gold became the dominant currency in the world. Under the gold standard system, gold not only plays the role of domestic currency in national economy, but also plays the role of world currency in international economic and trade relations. The balance of payments is offset by gold, and only gold constitutes the international reserve currency. Gold is freely exported and imported, and a country's currency can be exchanged for gold at a fixed rate. As for unliquidated paper money, which has no value in itself, it is generally ineffective to act as world currency on the world market.

The international financial history also shows that since gold ACTS as the world currency, the exchange rate and the international circulation of gold arise. Currency exchange has become a necessary factor in international economic trade. In order to make payment in foreign economic trade, the domestic currency should be exchanged with foreign currencies or exchanged with gold which ACTS as the world currency. Since money loses its place as the currency of the world and is attributed to a certain amount of gold, the currency of one country or region can be represented by the currency of another country or region. The currencies of each country or region are based on their ratio of gold content to each other to form a certain exchange rate, that is, the currency exchange rate. The stability of the exchange rate of one country or one region's currency to gold and other countries or regions is one of the important conditions for the normal development of international economic and trade. This requires that currencies of countries or regions maintain a stable parity against the world's currencies and are freely convertible, meaning that their currencies can be exchanged for a certain amount of gold at any time.

The payment of world currency between countries or regions causes the international circulation of gold. It moves from one country or region to another as the balance of payments and exchange rate of each country or region changes. Such flows are spontaneous and depend on the status of the international political and economic fields and the external political and economic links of each country or region. The former reflects the latter and is influenced by the latter. But the international circulation of gold as the world's currency is different from the movement of gold as a commodity between countries or regions. For example, when countries sell their gold abroad, gold is exported as a commodity, not as a world currency. In order to realize the international circulation of gold, each country or region must keep certain gold reserves. A country or region's gold reserves are both reserves for its world currency and reserves for domestic circulation and bank notes. The above two functions of gold reserve are mutually contradictory. When it is used for domestic circulation, it will affect its function as the world monetary reserve. When it is used in international circulation, it affects the functioning of its domestic reserves. When a country or region stops circulating gold within the country, the gold reserve ACTS only as a global monetary reserve.

The world currency is the tool to realize the international economic and trade connection. With the development of the world market, the world currency connects the economies of all countries and regions gradually. It has contributed to the expansion and development of international economic links and thus to the development of the world economy. At the same time, some imperialist countries used the world currency to carry out external expansion and plunder.

After World War I, most of the currency gold fell into the hands of the United States and Britain. Other countries lack the gold needed to import supplies. In order to reactivate the mechanism of the capitalist world economy, the international economic conference of Genoa, Italy, in 1922 determined that the international reserves of all countries should be made up of pound sterling, dollar and gold, which can be exchanged with gold, and the gold exchange standard should be established on this basis. This was the start of the sterling and the dollar becoming the world's currency. These two countries also use this as a means to carry out further foreign expansion and plunder. But later, under the impact of the capitalist world economic crisis in 1929-1933, various types of gold standard system broke down, and then various currency groups and currency areas emerged, such as the sterling area, the dollar area, the franc area and so on. At this stage, the British pound, us dollar and franc became the influential currencies at that time, playing a certain degree of world currency role in a certain region.

One of the reasons for this phenomenon in the development of the world currency is that, as the internationalization of production and capital develops increasingly, the economic ties between countries are expanding increasingly. In line with this, the demand for the world currency in international circulation also increases sharply. And the growth of gold production in the world is far behind the need for the world currency in international circulation, which forces people to use the non-gold credit currency to perform the function of the world currency. The second is the effect of the imbalance law of the development of capitalist countries. A few imperialist countries with especially strong economic strength have accumulated huge gold reserves, so that their credit currency may be recognized as international payment method and reserve currency through agreement.

After the second world war, the political and economic strength of each country changed greatly. The fascist countries of Germany, Italy and Japan were defeated and their national economy was destroyed. The British economy was badly damaged and weakened by the war. Instead, the United States grew dramatically and became the world's largest creditor nation. From March 11, 1941 to December 1, 1945, the United States provided Allies with more than $50 billion in goods and services under the lend-lease act. Gold keeps flowing into the United States. Its gold reserve increased from 14.51 billion dollars in 1938 to 200.8 billion dollars in 1945, accounting for about 59% of the world's gold reserve. The dollar's international standing has never been stronger because of the strength of its international gold reserves. This makes it possible to establish an international monetary system that is anchored in the dollar and conducive to America's external economic expansion. At the heart of the bretton woods system was the link between the dollar and gold, with other countries' currencies pegged to the dollar and fixed exchange rates. Although the establishment of the bretton woods system contributed to the stability of the international financial market, it also played a role in the post-war international economic recovery and development, and also enabled the us dollar to gain the status of "equivalent to gold" and become the world's main international settlement tool. Therefore, it also enables the dollar to dominate in the world monetary system.

Because of the war in the postwar American foreign continuously, however, its balance of payments deficit for years, appears to be a massive deficit, fiscal years make the falling dollar, coupled with the bretton woods system itself, there are serious defects in the end not only lead to the collapse of the bretton woods system, and make us dollar centered maintenance status in the global economy and international economic and financial hegemony is tumbled.

Dollar hegemony has always been the lifeblood of the United States. In 1972, the dollar and gold completely decoupled, the dollar in the world financial hegemony was greatly weakened, how to ensure the survival of the dollar hegemony? The U.S. government has come up with a plan to use the dollar as the sole pricing and settlement currency in the international crude oil market, which would guarantee that the world will have a lot of demand for the dollar, which can then circulate in international markets even if it is not backed by gold.

The dollar hegemony is a product of history. Over time, with the continuous weakening of the economic and financial status of the United States and the continuous progress and development of other countries, the United States still persists in implementing the former dollar hegemony. While the recent passage of a massive tax cut by congress could push the dollar back into the U.S., creating some kind of dollar strength, a big U.S. tax cut would be a double-edged sword, as would the risk of serious fiscal deficits and inflation. Objectively speaking, the United States wants to continue to maintain its number one economic power in the world economic development status, can only continue to try to play to the advantages of its high tech, and learn from other countries of advanced, modestly to complement each other, but cannot implement dollar hegemony, more can't use military hegemony, not only can not succeed, but counterproductive, further into recession.

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