For several years, the rate of M2 growth has exceeded reserve growth, leading to a decrease in the ratio of reserves to M2. The depreciation of the yuan in August halted this erosion. Due to growth in M2 and a decrease in reserves, however, the amount of yuan in M2 per dollar of reserves continue to rise.
Why Is a Sensible Immigration Policy Discussion So Hard?
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Why is the choice between shutting down the border and no controls at all?
And what about demographics? Fertility rates?
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