Your English writing platform
Discover LudwigExact(57)
In 1914, Europe had ten currencies, all with fixed gold parities and fixed exchange rates.
And the Baltic trio managed it while keeping fixed exchange rates.
Some say fixed exchange rates caused today's mess; others blame devaluation.
The Asian crisis led much of the developing world to abandon fixed exchange rates.
By 1973, fixed exchange rates had been abandoned in favour of floating rates.
All three have overheating economies and fixed exchange rates: a risky mix.
Back then the problem was fixed exchange rates and hefty foreign debt.
Where does the Wall Street Journals editorial page campaign for fixed exchange rates fit into this?
Similar(3)
Then governments had fixed exchange-rate pegs and large debts denominated in foreign currencies.
Most of them have floated their currencies, to avoid having to spend reserves defending fixed exchange-rate regimes.
In China, the currency is held steady by a Government-fixed exchange rate.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com