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【Tian-an-men square was covered with blood】

〈Students who were betrayed by the communist party〉

Including sneaking a shot by video camera,collating a photograph of a face with full name was done. After wiping away the square of Tian-an-men, activists were arrested and executed one after another.

The press in foreign countries sent images of the people who received the intervies to their countries from China, using a parabolic antenna.

Authorities of public peace recorded their images on video tape at will, and after the accident, the images of the people were put on the wanted list.

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【Tian-an-men square was covered with blood】

〈Students who were betrayed by the communist party〉

The images of the ones who were put on the wanted list were broadcast in China. It means ignoring literary property 著作権 openly, and violation on faith for boradcasting station in foreign countries.

Besides, broadcasting them in its country showed that they didn`t try to observe rules.

Students who sought for democratization and liberalization under rule of the communist party were too pure and simple, but their purity didn`t get through to the conservatives in the communist party and ...

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【Tian-an-men square was covered with blood】

〈Students who were betrayed by the communist party〉

...but their purity didn`t get through to the conservatives in the communist party and Deng Xiaoping とう小平 who didn`t forgive a little resistance.

Students who expected the communist party was betrayed by the communist party.

〈Jiang Zemin 江沢民 appeared〉

とう小平　Deng Xiaoping who abandoned Hu Yaobang 胡耀邦　and Zhao 　　　趙紫陽,without adopting Li Peng 李鵬　who was the conservatives, brought Jiang Zemin　江沢民 who made progress reform and opening from Shanghai. He made Jiang Zemin a leader of the communist party.

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【Tian-an-men square was covered with blood】

〈Jiang Zemin 江沢民 appeared〉

The movement for democratization was suppressed, and talking on the politics was a taboo for the Chinese again.

Without directing their eyes toward the politics, the people thought over the reform and opening alone which Deng Xiaoping とう小平 recommended.

Reformation and opening meant for the people was making
money.Mammonism 拝金主義 spread over in the society. While being indifferent to the politics, a trend of money was the first spread over more and more.

〈Capitalism under rule of the political power of the...〉

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【Tian-an-men square was covered with blood】

〈Capitalism under political power of the communist party〉

Gorbachev made progress democratization but it brought collapse Soviet itself. Deng xiaoping とう小平 watched over it, so without making progress the democratization for politics, he did on capitalism on economy under a rigid control by the communist party.

A strange system that capitalism under despotism of the communist party was formed. We call it a market economy in socialism.

As a result, China is different from Eastern Europe and Soviet, ruling by the communist party continues in China.

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【Tian-an-men square was covered with blood】

〈Capitalism under despotism of the communist party〉

Students appealed the corruption on the executives of the communist party at the risk of their lives at the square in Tian-an-men, but the corruption deteriorated worse and worse.

Though there are some political party which doesn`t oppose to the communist party formally, the communist party has ruled over everything on politics and economy under despostism of the communist party. Everyone has to obey the communist party.

But, if there is a corruption inside the communist party, who regulates it?

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【Tian-an-men square was covered with blood】

〈Capitalism under despotism of the communist party〉

There is no liberty of the press in China. Without permission from the communist party, no one can inform people of an event.

The police, the prosecution, and courts receive directions from the communist party. In short, if the communist party corrupts, no one can correct it. The political party doesn`t function a self-cleansing action.

Unless the democratization which the students appealed at the risk of their lives makes progress, corruption on the communist party and the government go ahead.

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【Tian-an-men square was covered with blood】

『Column, inviting olympic failed because of the accident in Tian-an-men』

After 4 years the accident at the square in Tian-an-men September in 1993, International Olympic committee decided the host country of the Olympic was Sydney in Australia. Beijing lost by two votes.

If allowing Beijing where the accident in Tian-an-men happened to invite Olympic, it means forgiving suppressing movement for deomocratization by military force. Each nation in Europe and America like the U.S.A.and the U.K. thought like that, so they objected to China thoroughly.

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【Tian-an-men square was covered with blood】

〈Fear for conspiracy from peace〉

Soviet and Eastern Europe. Nations of soicalism abandoned the socialism, and political parties lost their political power.

Except for China,the ones who have put up a flag of soialism are North Korea, Vietnam, Laos, and Cuba, though whether or not it`s worthy of its name of soicalism is other story.

The communist party in China thought those movements in the world were conspiracy by nations of capitalism like America.

Bringing thought like peace and democracy into China, capitalism tried to overthrow China ...

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【Tian-an-men square was covered with blood】

〈Fear for conspiracy from peace〉

...capitalism tries to overthrow structure of socialism from inside of China, China thought like that.

As socialism of Soviet and Eastern Europe collapsed, a confrontation between capitalism and socialism changes into surrounding socialism by capitalism.

Capitalism tries to overthrhow socialism without restoring force, and this is recognition on Deng Xiaoping とう小平,and leaders of the communist party after him.

Whether or not it`s a persecution complex 被害妄想,as long as this recognition continues, regulation for...

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【Tian-an-men square was covered with blood】

〈Fear for conspiracy from peace〉

...as long as the recognition continues, regulation on thought will go on in China from now on.

〈Residents who know freedom〉

Though it limited to a big city alone, lots of the Chinese enjoyed freedom and democracy even in an instant.

Though they`ve held their tongue, as long as reform and opening on economy continues, western thought and culture come into China by force.

Late spring should arrive in China in the future.

〈After that, what happened in China?〉

A leader in the communist party of China felt...

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【Tian-an-men square was covered with blood】

〈What happened in China after that?〉

Leaders in the communist party of China felt terrible to the riot by students, for it was asking political legitimacy on the communist party.

So Jiang Zemin 江沢民 made the people drummed political legitimacy for the communist party in China into their minds.

Education for patriotism has been done in schools all over China. In short it was forced to love the communist party.

The Chinese were forced to live miserable lives by Japanese militarism once. It was the communist party which defeated the Japanese...

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【Tian-an-men square was covered with blood】

〈After that what`s happened in China?〉

It was the communist party which beat the Japanese militarism and relieved the Chinese.

They have to emphasize how great the communist party is, so they were forced to emphasize how tragic the Chinese were before, and as a result, it becomes an education of anti-Japan.

The youth was educated like that, and unfurled demonstration for anti-Japan in 2005, and we the Japanese were surprised at it.

However after the accident in Tian-an-men square, the nature of corruption has never grown better,it`s expanded.

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【Tian-an-men square was covered with blood】

〈After that what`s happened in China?〉

Dissatisfaction to the ruling by the communist party from the people has accumulated so much.

【Money becomes a commodity】

〈Price of yen is expressed with a dollar〉

After the World War second, economy has also changed greatly. We need to know history on economy in order to understand the modern society.

It`s also useful when recognizing everyday news on economy which is indispensable for our life. There are three chapters left from now on, and modern history on economy has been described in the book.

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【Money becomes a commodity】

〈Price of yen is expressed with a dollar〉

A news appears every day like the next, a strong yen continues in a market on foreign exchange...it is a weak yen sometimes and a strong yen in other time.

Price of yen is shown with a dollar, and for example it is expressed with 1 dollar is 105 yen.

When changinging the price of one dollar from 110 yen to 105 yen, it`s a strong yen. Why?

If changing from 110 yen to 105 yen it means dropping the price, doesn`t it?

This question is caused by expressing the price of yen with a dollar.

If 1 yen is a criterion for its...

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【Money becomes a commodity】

〈Price of yen is expressed with a dollar〉

If 1 yen is its criterion, 1 dollar is 110 yen means １ devided by 110 equal 0.009090. 1 yen is 0.009090 dollar.

1 divieded by 105 equal 0.0095238, so then 1 yen is 0.0095238 dollar.

When comparing two of them, it turns out that 1 dollar is 105 yen is higher.

As a result, when 1 dollar changes from 110 yen to 105 yen, it is expressed with a strong yen.

〈A dollar is money for money〉

Why does Japanese yen is expressed with dollar?

Because a worth of money in the world has been decided as dollar is a criterion.

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【Money becomes a commodity】

〈Dollar is money for money〉

When expressing a worth of money of each nation, its way is exchanging it into a dollar,and we calculate it. How much is it? We usually do like that.

In short all the moneys all over the world is expressed with dollars, so dollar is money for money.

By the way, why can dollar decide the worth of money in the world?

Because American money is the strongeset in the world.

If an economy is stronger, confidence of money for its country becomes higher, we can use the money as criterion for worth of money for other countries.

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【Money becomes a commodity】

〈Dollar is money for money〉

By the way, I have little confidence on a way of using prepositions. I`ve tried to improve my English ability gradually, but to my sorrow, my effort can`t reach enough. I`m sorry for it.

Return to my main topic...

America imports various things from other foreign countries, and paid dollars for the commodities, so dollars have spread out all over the world.

After the World War Second, America offered plenty of money so as to help Europe which was ruined by the war. Needless to say, it was done by dollars, so Europe was filled with...

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【Money becomes a commodity】

〈Dollar is money for money〉

...Europe was filled with dollars then.

American economy is so strong that a person or a company who received dollars can possess dollars feel relieved on dollars.

When buying commoditites from America, they pay dollars which they received for the commodities.

Other countries have had such a confidence on dollars that when trading between other countries, dolllars are paid then.

Thus everybody has learned to think over the dollar as criterion. When expressing a worth of money on its own country, the dollar becomes a criterion...

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【Money becomes a commodity】

〈Dollar is money for money〉

...dollars become a criterion so as to make people in other countries understand. We call a currency which plays a part like dollars a key currency.

〈Nixon shock which shook economy all over the world〉

By the way, why does price of yen change every day? It started by Nixon shock.

Nixon who was then the President in America announced that America wouldn`t respond to change dollar with gold any more August in 1971.

It was so shocking then, for it means a collapse on the international currency system, so we call it Nixon shock.

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【Money becomes a commodity】

〈Nixon shoch which shook economy all over the world〉

As to dollars which each nation in the world possessed,whenever they went to America, they could exchnage it with gold until Nixon shock happned.

As there had been a sense of security on dollars whenever being able to change with gold, paying with dollar had been admitted by each country in the world.

Except for trading with America, paying with dollar used to be common sense, for there used to be a sense of security on American dollars.

Without changing worth of money, price of money of each country had...

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【Money becomes a commodity】

〈Nixon shoch which shook economy all over the world〉

Without changing worth of money, price of money had been fixed under the sense of security on dollars.

For instance, 1 dollar was fixed to 360 yen, and it had never changed, in addition then there were no words of a strong yen nor a weak yen.

Announcement of then the Nixon President that dollar wasn`t changed with gold any more means that a situation on economy was shaken greatly after the World War Second.

At the same time, the people all over the world had learned to know that price of money is changeable.

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【Money becomes a commodity】

〈Bretton Woods system deciced that dollars are money for the world〉

It was September in 1944 when the World War Second continued that American dollar becomes a key currency.

Representatives of forty four countries of allied powers which were at war with Japan or Germany gathered at a small town called Bretton Woods of New Hampshire in America.

After Japan and Germany surrendered, what kind of international currency organization should they create for world economy after the World War Second? they talked about it there.

World panic in 1929, and after the ...

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【Money becomes a commodity】

〈Bretton Woods organization decides that dollars are money for the world〉

World panic in 1929, after it the World War Second made international currency organization vanish, and trade between countries didn`t go smooth then.

We call the organization which was decided there Bretton Woods organization, naming after the name of the town.

Foundation of IMF which is an abbreviation of International Monetary Fund and the World Bank were decided so as to make the economy in the wrold after the World War Second be stable.

If an economic situation in a country...

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【Money becomes a commodity】

〈Bretton Woods organization decides that dollars are money for the world〉

If an economic situation in a country deteriotates, and the country can`t pay for foreign countries, IMF lends money to the country in a short term,

On the other hand, the World Bank lends money which needs for a long term development. It`s a mechanism on the Bretton Woods organization.

After the World War Second, Japan also lent money from the World Bank and constructed Tokaido Shinkansen Line and a superhighway from Tokyo to Nagoya, and return the money little by little.

If trying to...

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【Money becomes a commodity】

〈Bretton Woods organization decides that dollars are money for the world〉

If trying to say characters on the Bretton Woods organization with a single phrase, it connects currency which means money of each country with dollars in America.

Both mark in Germany and franc in France fixed exchanging rate with dollars. How much mark or franc to 1 dollar? It used to be fixed. We call it the fixed rate system.

If foreign countries demanded America to exchange dollars with gold, America would respond to it. Then its exchanging rate was 1 ounce which means 28.35 gram...

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【Money becomes a commodity】

〈Bretton Woods organization decides that dollaras are money for the world〉

Then the exchanging rate with gold is 1 ounce which means 28.35 gram was 35 dollars.

Dollar couldn`t be exchanged with gold in America, but it could be responded to demand of exchanging from foreign countries.

After the World War Second was over, Japan, Italy and Germany which lost in the war joined the organization.

In short money of each nation could be exchanged with dollar with fixed rate, and the dollar could be exchanged with gold.

In other words, introducing an international..

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【Money becomes a commodity】

〈Bretton Woods organization decides that dollars are the money for the world〉

In other words, introducing an international gold standard system 金本位制 into each nation through American dollar.

Currency of each country could be always exchanged with fixed dollars, moreover it could be done with gold through the organization.

The organization made each country trade each other with a sense of security, and then dollar was to be used when paying.

As a result, a stable economic relation had been founded for the time being after the World War Second, for...

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【Money becomes a commodity】

〈Bretton Woods organization decides that dollars are the money for the world〉

...for dollars have played part as the money for the world. Dollar which was always exchanged with gold played part as if it had been a convertible note then.

America could always exchange dollar with gold because there used to be lots of gold in America.

America alone wasn`t a battlefield for the World War Second. Orders from other countries which were at war to America increased so much that gold came into America one after another for paying for commodities.

Directly after the...

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【Money becomes a commodity】

〈Bretton Woods organization decides that dollars are the money for the world〉

Immediately after the World War Second, about 60 % of gold which world official institution possessed gathered in America. America could always exchange dollar with gold easily because it had such the gold.

The world of capitalism after the World War Second had been supported by the strong American dollars overwhelmingly.

〈1 dollar was 360 yen in Japan〉

When the World War Second was over, after four years, it was decided that 1 dollar was 360 yen by GHQ which occupied Japan then.

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【Money becomes a commodity】

〈1 dollar used to be 360 yen〉

Plenty of people may have thought 1 dollar changes around 100 yen,and it is natural, but 1 dollar used to be fixed at 360 yen at 1949, and it continued for 22 years since that.

We needed 360 yen in order to get only 1 dollar then, so we can recognize how weak Japanese economy was then. Going abroad used to be hard.

For example, when we needed 36 万円 so as to get 1000 dollars. If calculating 1 dollar is 105 yen, 36 万円 means 3400 dollar over at present.

『Column, the gold standard system and convertible note』

Gold used to be used...

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【Money becomes a commodity】

『Column, the gold standard system, and a convertible note』

Gold used to be used as money in many countries, including Japan, but carrying away lots of gold is dangerous, and inconvenient, so a bank learned to issue notes which is printed like the next, the note is always changeable with gold. We call it a convertible note.

Though it`s just a paper, it has confidence which is always changeable with gold, so it`s used as money, bill.

We call a system in which gold is kept in bank the gold standard system.

『Column, a strong yen is disadvantageour for industry..』

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【Money becomes a commodity】

『Column, a strong yen is disadvantageour for industry of export』

A strong yen means like the next. Then 1 dollar was 360 yen, so for example, let`s suppose that 1 dollar became 300 yen.

Then an automobile of which price was 1 million yen went up from 2778 to 3333 dollars.

The commodity didn`t change at all, but its price alone went up, so the commodity didn`t sell at all overseas then.

As a result, it is said a strong yen is disadvantageour to industries of export.

〈Nixon shock attacked〉

Thus Bretoon Woods organization founded a base on economy in the...

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【Money becomes a commodity】

〈Nixon shock attacked〉

Thus Bretoon Woods organization founded a base on economy in the world after the World War Second, but it came to a deadlock before long.

Ironically it had been brought by structure which supported the Bretton Woods itself. What was it?

Bretoon Woods organization is on condition that American dollars spread out all over the world. Each country was to use the dollars and had dealing with trade in the world.

So American dollars had to flow out from America. It means that the Ameircans buy lots of commodities and pay them for dollars.

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【Money becomes a commodity】

〈Nixon shock attacked〉

It means that America had to buy lots of commodities overseas and pay for plenty of dollars in foreign countries.

As a result, a deficit increases in America. American physical strength on economy becomes weak gradually.

In addition, the world is filled with dollars means that there will be demand which dollar is changed into gold in the future.

The gold which America possesses has a limit. A day comes true when America can`t change dollar with gold before long. Nixon shock made us inform the deadlock.

〈The world was overflowed with...〉

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【Money becomes a commodity】

〈The world was overflowed with American dollars〉

Bretton Woods organization was formed by plentiful American dollars.

Europe which was a battlefield in the World War Second became the ruins altogether. Asian economy remained backward, and Japan alone developed but it lost in the war.

Then America alone wasn`t a battlefield and remained unhurt.

Ameirca made use of the economic power and helped European economy for over four years since 1948. We call it Marshall Plan, named after the Security of State who made the plan.

In the beginning, the plan was to help...

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【Money becomes a commodity】

〈The world overflowed with American dollars〉

In the beginning, the plan was to help the whole Europe, but as the Cold War was intensified, Soviet thought like the next.

If each nation in Eastern Europe received the help, American influence became too strong.

So, Soviet put pressure on each country in Eastern Europe to refuse the help.

Instead, Soviet formed COMECON and opposed against America in 1949.
COMECON is unified Soviet and Eastern Europe economically.

America and Soviet were in a cutthroat battle for economic revival in Europe during the Cold War.

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【Money becomes a commodity】

〈The world overflowed with American dollars〉

Lots of American dollars spread out into western Europe by the Marshall plan. After economy revived, commodities of each country in Europe export increased. America bought them.Whenever America bought European commodities, dollars flowed into Europe.

On the other hand, Japanese economy developed and export to America incresased. Whenever America bought Japanese commodity, American dollar flowed into Japan.

Besides, in the middle of the Cold War, America continued to help its allied countries with money so as to ...

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【Money becomes a commodity】

〈American dollars overflowed in America〉

...America contiued to help its allied countries so as to opposed to each country in Eastern Europe of which center was Soviet.

U.S.Army joined Korean War and Vietnamese War directly and invested lots of dollars into them, espeically as the Vietnamese War dragged on endlessly, American expenditure continued to increase.

Vietnamese War made American economy weak. As a result, American dollar overflowed all over the world.

〈Being unable to change overflowed dollars into the gold〉

America helped foreign countries and...

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【Money becomes a commodity】

〈Being unable to change overflowed dollars〉

America helped foreign countries and it caused a deficit with trades between foreign countries, and dollars overflowed all over the world. As a result dollars spread over the world, and dollars are to spend for trades everywhere each country in the world. It was a sturcture on the Bretton Woods organization.

However European economy rivived, and they leraned to have plenty of dollars. Each country in Europe started suspect how much can America exchange dollars into gold?

If the amount of money of the countries...

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【Money becomes a commodity】

〈Being unable to change dollars into gold〉

If the amount of dollars of countries except for America is more than American gold, America couldn`t change dollars into gold.

Governments of each country felt anxiety and started to demand America to exchange dollars which they possessed into gold. After that, amount of the gold which American government possessed the gold started to decrease rapidly.

As to the amount of gold which American government possessed in 1949 was about 24.5 billion dollars when converting into dollars.

After 10 years in 1959, it...

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【Money becomes a commodity】

〈Being unable to change dollars into gold〉

After 10 years in 1959, the amount of gold which America possessed decreased to worth of 19,5 billion dollars. After that it continued to decrease.

While gold which America possessed was worth of about a little under 11.1 billion dollars, amount of fund American government lent from official institution in foreign countries reached about 193 billion dollars at the end of 1970.

If governments and central banks in foreign countries applied to American to return the fund they borrowed America with gold all together...

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【Money becomes a commodity】

〈Being unable to change dollars into gold〉

...then America didn`t know what to do.

This sense of impending crisis led to voice by Nixon.

America founded the Bretton Woods Organization and guaranteed that worth of dollar was gold, but stopped it.

It means that America gave up international responsibility of maintaining international monetary system after the World War Second.

However in spite of the Nixon shock, dollar was the money which was to use for trades in the world, for except for dollar, there is no appropriate money.

〈Voice by Nixon which aimed...〉

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【Money becomes a commodity】

〈Voice by Nixon aimed at devaluating a dollar〉

Voice by Nixon that didn`t change dollars with gold. It had other big goal. It aimed at devaluateing dollars.

The voice declared that even if 35 dollars was brought, America wouldn`t exchange it with gold. It means that dollars wasn`t worthy of gold as it used to be. In short, price of dollar dropped.

In this way, America tried to change a rate of exchanging dollars with currency of other nations.

America which was worried about deficit in trade devaluated dollar and tried to rebuild its own economy.

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【Money becomes a commodity】

〈Voice by Nixon aimed at devaluating dollars〉

If 1 dollar of which worth is 360 yen is devaluated to 1 dollar is 300 yen, what`s happened?

We could buy a coomodity of which price is 1 dollar with 360 yen until then, but we could buy the one with 300 yen alone after that. A worth of dollar drops. It`s devaluating a dollar.

Then let`s suppose that there was an automobile of which price was ten thousand dollars in America. When it was sold in Japan, its price dropped from 3.6 to 3 million yen.

In short price of American commodity in foreign countries drops and ...

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【Money becomes a commodity】

〈Voice by Nixon aimed at devaluating a dollar〉

...so American commoditits would be sold and its export expand, Ameirca thought,and America tried to rebiuld its own economy.

『Column, a foreign exchange market』

Though a name of market is added to the phrase, it doesn`t always mean there is a market somewhere.

Dealing　on changing foreign currency like yen and dollar and yen and pound have been done through a computer or a telephone.

When starting, there was no computer,so teleophone between banks or dealing between brokesr were done with regard to the dealings.

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【Money becomes a commodity】

『A froeigh exchange market』

Dealings between brokes were done across a round table and receiving orders from good customers over telephone.

〈Japan alone continued to open the foreigh exchange market in the world〉

Banks and companies of each country foresaw that price of dollars drop,and tried to change dollars with a courrency of other country while it maintained the value of dollars.

They sought for exchanging dollars with curreny of other countires in a foerign exchange market of other countries, so the foreign exchange markets were greately disrupted then.

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【Money bocomes a commodity】

〈Japan alone continued to open its foreigh exchange market〉

Governments of each country in the world closed its foreign exchange market in the wrold so as to avoid the disruption, but Japan alone continued to open it. Why? Some people say like the next.

Nixon shock made selling dollars rushed to the foreign exchange market and what happpened? The Japanese ones who were charging with economy like the Ministry of Finance, Japanese Bank, the Minister of Finance,and the prime minister couldn`t forsee at all.

However it is thought they were the ones who committed...

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【Money becomes a commodity】

〈Japan alone continued to open its foreigh exchange market in the world〉

However it`s thought they were the ones who committed a crime of conscience.

If its foreign exchange market was driven into a close, when it opened again, the price of both dollars and yens would drop. It means a strong yen, and would damage to Japanese economy, and they hated it, but some other people say like the next.

Japanese banks and business companies had a large amount of dollars at hand.

If the price of dollars dropped, the dollars which they owned would drop, and Japanese...

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【Money becomes a commodity】

〈Japan alone continuted to open its foreign exchange market in the world〉

...and Japanese companies would be damaged by it, so the Bank of Japan continued to open the foereign exchange market and to change dollars with yen even to some extent.

In short they considered that Japanese companies avoided damagin, so the Bank of Japan saved Japanese banks and companies with its money.

Without closing the foreign exchagne market, Japan continued to change dollar with yen with the rate that 1 dollar was 360 yen.

However companies all over the world who thought the...　

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