Yet for now, all plausible alternatives to the U.S. dollar lack liquidity and, in some cases, convertibility.
Cellulose convertibility was calculated as the converted cellulose divided by the original cellulose content.
In 1931, after Britain and some two dozen other countries suspended gold convertibility and allowed their currencies to depreciate, countries that stuck to the gold standard found themselves in a deflationary vice.
This is the second time in the last year that Mr. Putin has called for convertibility of the currency, and some in government have expressed frustration with orders from on high to transform the once-lowly ruble into a world-class currency without a gradual process of economic liberalization.
The size of this cushion has triggered some calls for further liberalisation of the labyrinthine foreign-exchange controls that India still maintains, despite the move in 1993 towards rupee convertibility for trade purposes.In recent months, some controls have duly been eased.
Certainly, in terms of some of the bolder promised measures, like full currency convertibility and interest rate liberalisation, China's policy makers do appear to be moving cautiously.
Cellulose convertibility thus increased to between 45 and 78% (converted glucan/original glucan).
The two main philosophical questions surrounding Einstein's equation concern how we ought to understand the assertion that mass and energy are in some sense equivalent and how we ought to understand assertions concerning the convertibility of mass into energy (or vice versa).
For some time the economy had been deteriorating; the peso's one-to-one convertibility with the dollar was an artificial paradise.
China's State Council, or cabinet, said it was establishing a pilot zone in Shanghai to test some of the government's financial overhauls, including interest rate liberalization and full convertibility of China's currency, the renminbi, according to reports Thursday in the state-run news media.
