exchange parity

Chinese products, due to their low cost and exchange parity have a comparative export advantage.

It maintained exchange parity with the Pound Sterling until the dissolution of the USSR in 1991.

Yet that exchange parity has added to the pain of some American small-business owners who import goods from Europe and elsewhere that compete with Chinese-made products.

Similarly, within the EMS of the 1980's, occasional small changes in exchange parities have effectively offset price inflation that has been higher in France and Italy than in West Germany.

Due to worldwide fluctuations in the price of silver during the 1930s, Manchukuo took the yuan off a silver standard in 1935 and subsequently pegged the yuan to, and later reached approximate exchange parity with, the Japanese yen.

If an asymmetric shock hits us in the near future, we may very well be glad that we can modify the exchange parities between the euro and some national currencies in order to bring a certain amount of flexibility to the system and not force our fellow citizens to make unnecessary sacrifices.

Europe is experiencing a kind of crisis of weariness and is in danger of getting bogged down in debates that are too technical, like those about the best exchange parities between the future single currency and its component currencies, or the still more impenetrable debate about the future stability pact.