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2 pages/≈550 words
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APA
Subject:
Management
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English (U.S.)
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Discussion. Global Managerial economics. Management Essay.

Essay Instructions:

In 1944, finance specialists and bankers from around the world met to discuss what the post-WWII monetary system would be. Given the instability of the pre-war period, the goal was to create a new system. The outcome of this was the Bretton Woods system, which had the U.S. dollar as the world reserve currency linked to gold at $35 an ounce. All other currencies were tied to the dollar with limits on how much they could appreciate or depreciate. The system lasted until the 1970s, when the United States decided to move away from gold convertibility. The modern system is based on supply and demand for currency and a managed float. Discuss the following in your main post:
The U.S. dollar remains the world's reserve currency. Is this good for the United States, and if so, why?
People usually think a "strong" dollar is good. Is this true for U.S. businesses, and does it help or hurt the U.S. balance of payments?

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Question 1
The United States dollar is the most used currency around the world. It represents 61% of the international foreign exchange currency reserves. This makes it easy for the United States to run high trade deficits. This has prevented any currency disaster in the United States. Using the dollar of the United States as the world's reserve currency is good. This is because the dollar is suitable to be a world reserve. After all, it can be used by everyone around the globe. A currency is selected as a reserve currency because it is supported by an economy that is stable (Pettinger, 2017). In the past, gold was used as a reserve currency. Additionally, the United States has a very stable economy and the country itself is the leading economy. Further, a lot of banks around the world, hold the dollar in large amounts. Today, people can travel in various countries and they may not require to convert the United States dollar with other currencies. This is because the dollar can be used in all parts of the world. Even though there are trillions of dollars in foreign debt, the United States of America has been able to gain global confidence and trust. This has made the dollar to become the strongest currency around the world and it will continue to be on top even in the coming decades.
Question 2
Sometimes people will always think that a 'strong" dollar is very good. However, a strong dollar is not...
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