POL101Y1 Lecture Notes - Lecture 8: List Of Internet Phenomena, U.S. Bancorp
Document Summary
Sdr weighted basked of most important currency in the world (unit of account) o. Used to see how economies are performed around the world. The yuan was added this week- great recognition but also means china can"t play with the currency. o. Us (over 40%), euro, yuan, yen, pound sterling. Us gov issues bonds and china buys it. Issue a big part of the world is struggling to share this prosperity. Eg africa but now has better growth starting to dev. industries. Middle east people are reluctant to get involved because of the political risk oil wealth and revenue dependence sent off shore price of oil went down they still make money off it. India provides services (adv over china-they speak english) The us is still struggling to absorb that it"s not always about them.
