Is it its capacity to tax people, or is it its capacity to issue currency?
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The independent operator can issue local currency cards and serves as the merchant acquirer.
In Caterpillar, we've been encouraging and participating in what we would say are diplomatic discussions on the issue of currency and other trade issues.
If it meant that countries were restricted in their ability to issue more currency without having a specific level of gold reserves, then the answer was no.
Along those lines, we note that senior US officials have been quiet on the issue of currency appreciation, with the US Treasury Department delaying the publication of its semiannual report on exchange rate policies, which was due on April 15.
Exporters are struggling and some are moving production offshore because of the currency issue.
And foreign investors in financial services, say, are likely to be less concerned by the currency issue.
On the wider issue of the currency, anent which more on Tuesday, there is similarly a dual position.
The IMF at its annual meeting this weekend took up the currency issue but failed to take action.
This global bank would issue its own currency, called the bancor, in which all trade accounts would be settled.
The problem is that a lot of people go back to the war - they can't separate the currency issue from this.
In fact, the Group of Seven finance ministers wrapped up their latest meeting yesterday, and the Japanese walked away Scot-free on the currency issue.
So far, the dialogue is "not productive or helpful, " says a Congressional staffer, noting that no progress has been made on the currency issue.
Investors were awaiting a meeting of Group-of-20 finance ministers in Moscow later in the week, which is expected to confront the issue of deliberate currency depreciation.
For all intents and purposes, the currency issue is now off the table as far as a serious discussion point between the United States and China.
Backing out of the reserve currency issue and up to the arguably more profound level of culture and belief, China is not interested in a unipolar world.
But one problem for critics of U.S. policies and protectionists is that the current approach to the currency issue doesn't seem to have had much of an effect on jobs in the economy at large here.
He also noted a potential currency issue.
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Building on the decisions and commitments made at the G20 last weekend, where China agreed that it was determined to have greater flexibility in exchange rates and agreed to stimulate more domestic demand, the President raised those issues as critical to dealing with the current economic issues, pressed on both the currency issue and on rebalancing and domestic demand.
Yuan-denominated debt would be attractive for African institutions to issue as their local currency-denominated debt markets are nascent.
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What is certain is that the whole issue of the single currency is now going to move back to the centre of the political stage.
In the short run a diminished dollar will seem to bolster the fortunes of those, like the Indians in this issue, whose comparative currency strength gives them an edge.
Countries with plenty of reserves, such as China or India, could allow mutual funds (domestic or foreign) to issue shares in domestic currency with which they could buy foreign exchange from the central bank.
Since they will be in a foreign currency, the issue will not be affected by Malaysia's capital controls.
The Tories have launched a new poster campaign raising the issue of a European single currency - this time without a hitch.
Now its policy on the single currency is one issue on which the party seems more in tune than Labour with public opinion.
The most famous example is the issue of China's currency.
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This is a hot button issue in Iran, where the currency due to sanctions has dropped 80 percent from its peak in 2011.
Meanwhile, Liberal Democrat leader Paddy Ashdown, whose party did less well than expected, attacked Mr Blair for failing to show any leadership over the issue of Europe and the single currency.
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