Yuan an international medium of exchange Research Paper

Yuan an international medium of exchange - Research Paper Example Presently, the United States Dollar is the global medium of exchange. Since the beginning of this trend, the United States has benefited greatly in terms of the economic stability that the country has experienced. Clearly, if traders all across the world are seeking to have access to the United States Dollar, the only implication is that the value of the Dollar would continue to be strengthened naturally. However, various national and international factors have given rise to a situation whereby the strength of the United States Dollar continues to decline as against other global currencies. Today, the United States Dollar has been tagged as a weaker currency and thus its preference for international trading seem to be dwindling sharply. Without any doubt, the impact of this current trend is a positive one for the ambition of the Chinese government to have the Yuan become a global currency. From an international realism theory perspective, the initiative taken by China would have to m eet a number of conditions, among which includes the fact that â€Å"there must be strong demand by world traders, investors, and central bankers for the currency as a medium of exchange for foreign trade settlement†. But once the Yuan becomes accepted as an international medium of exchange and thus becomes a global currency, it would become â€Å"a unit of account for denominating international financial transactions, and a store of value for central banks' foreign exchange reserves†.And this is by no means an enviable position wanting.

The Penny Press Essay Example | Topics and Well Written Essays - 500 words

The Penny Press - Essay Example The penny press had much more to offer readers then traditional newspapers. The penny press, which became almost popular overnight, allowed writers to give the public a small breakdown of current events. This was important since readers no longer had to wait for other papers to circulate. Readers wanting to be updated on the latest and greatest events could purchase a subscription or pick up a paper from a local news stand. When consumers purchased the paper, they knew that the paper would contain information that was current and of interest. Not everyone took a liking to The Penny Press. â€Å"Many were not interested in the topics presented and thought that they appealed to a lower class of individuals.† (Friedman 2005) These people preferred the traditional style newspaper since it contained political info as well as the week’s most important headlines. The late 1800’s was a time that housed many new events. These new events were so popular and interesting to readers that they fueled the success of The Penny Press. The public quickly became use to the fact that they could read new and updated topics everyday for only one penny. The effect of the popularity of The Penny Press, left penny press writers with the need to constantly seek out new stories. These new stories were not always easy to find and The Penny Press opened up the doors and gave a new definition to the meaning journalism. Journalism quickly began to grow as the need for new stories became such a high demand. Consequences that arose from the increase in journalism as a result of The Penny Press are seen even in today’s society. These consequences include a decrease in the public’s privacy, an increase in paparazzi, and an increased want by the public to have information. The pressure this created on journalist made journalist hungry for information and willing to do what was necessary to get the most popular and sought after story. It is obvious that the