首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Despite much loose talk about the new global economy, today’s international economic integration is not unprecedented. The 50 ye
Despite much loose talk about the new global economy, today’s international economic integration is not unprecedented. The 50 ye
admin
2014-03-22
71
问题
Despite much loose talk about the new global economy, today’s international economic integration is not unprecedented. The 50 years before the first world war saw large cross-border flows of goods, capital and people. That period of globalization, like the present one, was driven by reductions in trade barriers and by sharp falls in transport costs, thanks to the development of railways and steamships. The present surge of globalization is in a way, a resumption (恢复) of that previous trend. The earlier attempt at globalization ended abruptly with the first world war, after which the world moved into a period of fierce trade protectionism and tight restrictions on capital movement. During the early 1930s, America sharply increased its tariffs, and other countries retaliated (报复) , making the Great Depression even greater. The volume of world trade fell sharply. International capital flows virtually dried up in the interwar period as governments imposed controls to try to insulate (隔离) their economies from the impact of a global slump.
Capital controls were maintained after the second world war, as the victors decided to keep their exchange rates fixed on arrangement known as the Bretton Woods System, named after the American town in which it was approved. But the big economic powers also agreed that reducing trade barriers was vital to recovery. They set up the General Agreement on Tariffs and Trade (GATT), which organized a series of negotiations that gradually reduced import tariffs. GATT was replaced by the World Trade Organization (WTO) in 1995. Trade flourished.
In the early 1970s, the Bretton Woods System collapsed and currencies were allowed to float against one another at whatever rates the markets set. This signaled the rebirth of global capital market. America and Germany quickly stopped trying to control the inflow and outflow of capital, Britain abolished capital controls in 1979 and Japan (mostly) in 1980. This is part of the reason why continental Europeans tend to worry more about the power of global capital markets. America has been exposed to them for much longer.
Two forces have been driving these increased flows of goods and money. The first is technology. With the costs of communication and computing falling rapidly, the natural barriers of time and space that separate national markets have been falling too. The second driving force has been liberalization. As a result of both the GATT negotiations and unilateral (单方面的,单边的) decisions, almost all countries have lowered barriers to foreign trade. Most countries have welcomed international capital as well.
The global capital market didn’t flourish until______.
选项
A、the Bretton Woods system was established
B、the Bretton Woods system collapsed
C、GATT was set up to reduce import tariffs
D、GATT was replaced by WTO
答案
B
解析
细节题。关于资本市场的复兴是在第三段中讲到的。20世纪70年代初期,布雷顿森林体系崩溃,货币得以浮动,标志着全球资本市场的复兴。因此B是正确答案。
转载请注明原文地址:https://kaotiyun.com/show/cdXO777K
0
在职攻硕英语联考
相关试题推荐
Accordingtothenewschoolofscientiststechnologyisanoverlookedforceinexpandingthehorizonsofscientificknowledge.S
Inarecentstudy,neuroscientistsfoundthatplayingfast-pacedvideogamescouldhelpimprovedyslexicchildren’sreadingspe
Anewstudysuggeststhatcontrarytomostsurveys,peopleareactuallymorestressedathomethanatwork.Researchersmeasured
InMicrosoft’slatestattempttoreachouttobloggers,thecompanyrecentlygaveawayexpensivelaptopsloaded【C1】______itsnew
Criticismwithoutsuggestingareasofimprovementisnot______andshouldbeavoidedifpossible.
Mr.Abu,thelaboratoryattendant,cameinfromtheadjoiningstoreandbrisklycleanedtheblackboard.HewasaretiredAfrican
Tobehappy-go-luckyistobecheerfulaboutalmosteverythingandforgetaboutthestressesandpressuresofeverydaylife.
A、Thewomandoesnotdrinkbeer.B、Itwasnotthewoman’scoat.C、Thewomanjusthadhercoatcleaned.D、Thewomanisnotangry
InParagraph1,"I’msurpriseditwasthatmuch"meanstheauthorthinks______.Accordingtotheauthor,mostAmericans______
Sensiblepeopledon’tthinkitis______tobuythingswhicharenotneededevenatalowprice.
随机试题
人体少数脏器受交感神经和副交感神经的双重支配。()
患者,男,45岁。因胃溃疡入院治疗,护士小张正在采集病史,与患者沟通。创造良好沟通环境的方法不包括
可能根治慢性粒细胞白血病的方法是
下列哪项不是炙甘草的作用
估价人员平常就应留意搜集估价所需要的有关资料,在估价时更应如此。估价所需要的资料主要包括()。
作为商品的计算机软件,其价值的物质承担者是()。
一项最新研究发现,那些曾上过大学的人,比十儿岁即离开学校的人,随着年龄增长血压更低。由此得出,受教育程度越高,血压就越低。以下各项如果为真,最能反驳上述结论的是()。
Thenextdecadecouldseecommutersspeedingtoworkatabout300milesperhouraboardmagneticlevitationvehicles,according
据新华社2022年4月25日报道,国务院办公厅日前印发《关于进一步释放消费潜力促进消费持续恢复的意见》。《意见》指出,消费是(),是畅通()的关键环节和重要引擎,对经济具有持久拉动力,事关保障和改善民生。
Jackeventuallyovertookthelasttruck.
最新回复
(
0
)