During the lengthy discussions which led to the 1944 Bretton Woods Agreement, economist John Maynard Keynes opposed fixed exchanged rates via-a-vis a gold backed US dollar. He instead proposed the creation of a super-national unit of account which he called the bancor. The justification behind a seemingly tedious accounting unit which could be purchased in…
Toshiba yesterday, Huawei today! Thirty years ago, Toshiba exported precision instruments to Russia. The United States imposed the following penalties on Toshiba Group: 1.) The Japanese Police Department was ordered to arrest Erhe Lin, President of Toshiba Machinery Foundry, and Hiroshima Tanamura, President of Machine Tool Business, and sentenced to 10 years’imprisonment. 2.) Closing Toshiba’s…
