Exact(3)
"The Chinese authorities see full convertibility as a long-term objective, recognizing this is essential for the renminbi to become an international reserve currency," Mr. Prasad said.
That explains the broad popular appeal of "convertibility" as a bulwark against economic chaos.A second reason for demanding continuity is that Argentina's radical reforms at first yielded spectacular results.
This uniqueness was once an asset, but, since Brazil's devaluation, many investors have come to see convertibility as a millstone, which risks consigning Argentina to years of stagnation.There are signs that the recession may have reached bottom: on a monthly basis, industrial production began to edge up in July, and consumers are a shade less depressed.
Similar(56)
In a second stage, he considered intuitionistic natural deduction for the full language of predicate logic and reduced its normalization to the deletion of detour convertibilities as in the fragment of classical logic.
Floyd Norris has a good piece about Argentina's exit from the convertibility law as a precedent for possible euro exit.
The result was a loss of competitiveness and a wrenching recession and, in January 2002, the sudden demise of the convertibility plan as Argentina simultaneously devalued and defaulted (which, incidentally, proved costly for Italian savers, many of whom were heavily invested in Argentinian debt).It makes a grim story, and there are plenty of gloomy analysts who predict a similar fate for Italy.
The dollar was returned to gold convertibility at $35 per ounce and would serve as the world's reserve currency, while the pound, the franc, and other currencies were pegged to the dollar.
Cellulose convertibility was calculated as the converted cellulose divided by the original cellulose content.
Cellulose and xylan convertibility were calculated as the converted cellulose or xylan divided by the original cellulose or xylan content in the grass raw material.
Convertibility was calculated as the percentage of glucan converted to ethanol based on a theoretical ethanol yield of 51 g ethanol per 100 g of glucose for yeast: C o n v e r t i b i l i t y = E t h a n o l p r o d u c e d (g ) i n r e a c t o r I n i t i a l s u g a r (g l u c a n, g ) i n r e a c t o r × 0.51 × 100 The maximum value of convertibility is 100%.
Argentina first adopted the policy known here as "convertibility" in March 1991.
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