When China developed into an industrial powerhouse in the early 1990s, western investors flooded the Chinese market with capital. A dollar collapse won’t likely happen, however, because it’s not in
Banknotes are issued in denominations from 1 fen to 100 renminbi. The reverse side of most coins, which range in denominations from 1 fen to 1 renminbi, contains images of
Saudi Arabia, the world’s largest oil exporter and OPEC’s largest producer, is seen as the cartel’s de facto leader. It historically has acted as a “swing producer” that adjusts production
As the finances of the French government deteriorated because of European wars, it reduced its financial assistance to its colonies, so the colonial authorities in Canada relied more and more
While fiat currency doesn’t have an intrinsic value, as a commodity currency does, some economists argue that the currency does have value because governments require taxes to be paid in
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