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    Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

    Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

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    How lucky are Indian children in the United States to get out of a “boarding school” alive?

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    Japanese billionaires broadcast live in space, saying the next stop is Mariana Trench

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    Want to go to Mars? Solve these problems first.

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    Pakistan lifts TikTok’s ban again

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    Facebook platforms have become a tool for inciting religious hatred in India

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    scoring two goals in 90 seconds, Real Madrid "resurreated" in the Champions League to the finals

    scoring two goals in 90 seconds, Real Madrid “resurreated” in the Champions League to the finals

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    Schedule of the 2024 Paris Olympic Games announced

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    Secretary-General of the Qatar World Cup Organizing Committee: Welcome to Qatar

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    The United States reported 180 cases of hepatitis in children with unknown causes, spreading to 36 states and territories.

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    Students in many parts of the United States went on strike to protest against the severity of the school epidemic and asked officials to take practical measures to prevent the epidemic

    Belgian fighting champion dies of COVID-19: Refuses to go to hospital before death, saying that COVID-19 is just a small virus

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    With the increasing number of confirmed cases of COVID-19, the Indian capital New Delhi will impose a curfew on the 27th.

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    255 U.S. personnel have been diagnosed with a cluster infection in U.S. military camps in Okinawa Prefecture, Japan

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    Omicron hits U.S. frontline employees, thousands of police and nurses in New York are absent

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    6 staff members around Canadian Prime Minister Trudeau were diagnosed with COVID-19

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    Is another “pandemic storm” coming? WHO issued a warning!

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      Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

      Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

      How lucky are Indian children in the United States to get out of a "boarding school" alive?

      How lucky are Indian children in the United States to get out of a “boarding school” alive?

      Japanese billionaires broadcast live in space, saying the next stop is Mariana Trench

      Japanese billionaires broadcast live in space, saying the next stop is Mariana Trench

      Want to go to Mars? Solve these problems first.

      Want to go to Mars? Solve these problems first.

      Pakistan lifts TikTok's ban again

      Pakistan lifts TikTok’s ban again

      Facebook platforms have become a tool for inciting religious hatred in India

      Facebook platforms have become a tool for inciting religious hatred in India

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      scoring two goals in 90 seconds, Real Madrid "resurreated" in the Champions League to the finals

      scoring two goals in 90 seconds, Real Madrid “resurreated” in the Champions League to the finals

      Schedule of the 2024 Paris Olympic Games announced

      Schedule of the 2024 Paris Olympic Games announced

      Secretary-General of the Qatar World Cup Organizing Committee: Welcome to Qatar

      Secretary-General of the Qatar World Cup Organizing Committee: Welcome to Qatar

      Chinese women's football team competes in the 2022 Indian Women's Football Asian Cup

      Chinese women’s football team competes in the 2022 Indian Women’s Football Asian Cup

      Djokovic issued a statement: Extremely disappointed with the judgment of the Australian court

      Djokovic issued a statement: Extremely disappointed with the judgment of the Australian court

      Challenge the highest difficulty and qualify for the Winter Olympics. Yuzu is back!

      Challenge the highest difficulty and qualify for the Winter Olympics. Yuzu is back!

      Messi was named IFFHS Player of the Best South American Player

      Messi was named IFFHS Player of the Best South American Player

      Countdown clock for the 2022 Qatar World Cup starts timing

      Countdown clock for the 2022 Qatar World Cup starts timing

      Countdown to the first anniversary, Qatar World Cup has been set for 13 seats

      Countdown to the first anniversary, Qatar World Cup has been set for 13 seats

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      The United States reported 180 cases of hepatitis in children with unknown causes, spreading to 36 states and territories.

      The United States reported 180 cases of hepatitis in children with unknown causes, spreading to 36 states and territories.

      8 cases of hepatitis in children with unknown causes were found in Argentina

      8 cases of hepatitis in children with unknown causes were found in Argentina

      Students in many parts of the United States went on strike to protest against the severity of the school epidemic and asked officials to take practical measures to prevent the epidemic

      Students in many parts of the United States went on strike to protest against the severity of the school epidemic and asked officials to take practical measures to prevent the epidemic

      Belgian fighting champion dies of COVID-19: Refuses to go to hospital before death, saying that COVID-19 is just a small virus

      Belgian fighting champion dies of COVID-19: Refuses to go to hospital before death, saying that COVID-19 is just a small virus

      With the increasing number of confirmed cases of COVID-19, the Indian capital New Delhi will impose a curfew on the 27th.

      With the increasing number of confirmed cases of COVID-19, the Indian capital New Delhi will impose a curfew on the 27th.

      255 U.S. personnel have been diagnosed with a cluster infection in U.S. military camps in Okinawa Prefecture, Japan

      255 U.S. personnel have been diagnosed with a cluster infection in U.S. military camps in Okinawa Prefecture, Japan

      Israeli Prime Minister Bennett is quarantined due to his daughter's diagnosis of COVID-19

      Israeli Prime Minister Bennett is quarantined due to his daughter’s diagnosis of COVID-19

      Omicron hits U.S. frontline employees, thousands of police and nurses in New York are absent

      Omicron hits U.S. frontline employees, thousands of police and nurses in New York are absent

      6 staff members around Canadian Prime Minister Trudeau were diagnosed with COVID-19

      6 staff members around Canadian Prime Minister Trudeau were diagnosed with COVID-19

      Is another "pandemic storm" coming? WHO issued a warning!

      Is another “pandemic storm” coming? WHO issued a warning!

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      The declaration of Switzerland as a “currency manipulator” by the United States was refuted by economists.

      December 21, 2020
      in Business, World
      0
      South Korean intelligence agencies are alert to the flow of counterfeit 50 US dollars into China

      The fiscal deficit of the United States is the highest in the same period of the year.

      Stefan Grack, former vice president of the Central Bank of Ireland, Ivan Longville, a professor at the University of Basel, and Charles Viplos, honorary professor of the Senior Institute of International Relations and Development in Geneva, said: “We believe that the identification of exchange rate manipulators [of the United States Treasury Department] is misleading and based on inconsistency.

      The principle of reason.

      Three economists said that the U.S. Treasury Department stipulates that a country will be considered a “exchange rate manipulator” if it meets the following three conditions within 12 months: the country’s trade surplus with the United States is at least $20 billion; the country’s current account surplus accounts for at least 2% of its gross domestic product (GDP); and the country’s at least Six months of foreign exchange purchase and net purchase exceed 2% of its GDP.

      They made it clear that these three criteria were “unreasonable”.

      Regarding the trade imbalance, they said that the trade surplus between Switzerland and the United States is only an exception. The Swiss economy has its own speciality, with different trade differences with different countries.” The trade surplus or deficit has nothing to do with exchange rate manipulation.

      Regarding the current account surplus, they believe that the Swiss current account surplus is due to the huge amount of foreign investment in Switzerland, while the strong Swiss investment capacity is due to the increase in savings caused by the aging population in Switzerland, and the government’s debt ratio has been low before the coronavirus outbreak and the ability to invest.” This also has nothing to do with exchange rate manipulation.”

      Regarding national intervention in the foreign exchange market, they pointed out that the Swiss franc is an important safe haven currency in the world. During the epidemic, global capital flowed into Switzerland to avoid risk, resulting in the appreciation of the Swiss franc and the decline in the competitiveness of Swiss exports.

      Since Swiss interest rates are negative, the “only solution” to avoid the appreciation of the Swiss franc is to buy foreign exchange.

      They stressed that the real effective exchange rate is more useful for measuring the real value of the currency than the bilateral nominal exchange rate, and based on the actual effective exchange rate of the Swiss franc, the current control of the Swiss central bank on the foreign exchange market is not enough to depreciate the Swiss franc to bring a price advantage to Swiss international trade.

      They also pointed out that the IMF’s reports in recent years did not believe that Switzerland manipulated the exchange rate, but all of them thought that the Swiss franc was too valuable, which highlighted the unreasonableness of the United States’ approach.

      After the United States identified Switzerland as a “currency manipulator”, the Swiss Central Bank announced in the middle of this month that it would continue to implement expansionary monetary policy to ensure economic and price stability in the context of the impact of the epidemic on the economy.

      Tags: SwitzerlandUnited States

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