External
in sentence
2292 examples of External in a sentence
Reserves of $600 billion enabled Russia to ride out the storm of 2008 without
external
help.
It is no accident that the democratic process has emerged most smoothly where there was some
external
power to back up the constitution.
Perhaps the best way to avoid confrontation is to cooperate on shared
external
threats, most notably nuclear proliferation, global climate change, and Islamic extremism.
On the brink of collapse in the late 1970s, following the cumulative convulsions of Mao’s Great Leap Forward and Cultural Revolution, China was quick to turn to the US for
external
support for Deng Xiaoping’s strategy of “reform and opening up.”
China was the first to embrace change – committing to an economic rebalancing by shifting its growth model from
external
to internal demand, from exports and investment to private consumption.
Both countries fear that intervention – whether militarily or through economic sanctions – could harm their interests in Syria, where they – especially the Russians – have been the dominant
external
players.
Although competitiveness within the eurozone would be unaffected, a weaker euro would significantly improve the
external
balance with the rest of the world, which accounts for about half of eurozone trade.
If China fails to rebalance, weak
external
demand from a crisis-battered developed world will continue to hobble its export machine, forcing it to up the ante on a credit- and investment-led growth model – in effect, doubling down on resource-intensive and environmentally damaging growth.
Moreover, assistance requires that beneficiaries implement negotiated measures and accept close
external
monitoring of policy developments.
Nonetheless, the pressure to support global financial markets and other
external
economies suggests why the issue is being debated.
President Mauricio Macri’s year-old administration is naturally inclined toward economic liberalism, and Argentina is caught today in the straitjacket of the
external
tariff of the Mercosur regional trade agreement with Brazil, Paraguay, and Uruguay.
But if those reserves mainly take the form of dollars, then their rising demand allows the United States to finance its
external
deficit at an artificially low cost.
Second, most emerging markets have moved to floating exchange rates, which help to cushion growth from
external
shocks such as unanticipated monetary-policy tightening in the United States.
Low equilibrium interest rates are an important anchor for local and
external
debt prices in emerging markets.
At the same time, emerging-market growth should start to become less sensitive to US interest rates and the dollar,given lower
external
borrowing needs, the relative lack of borrowing in dollars specifically, and reduced dependence on commodity exports.
In the past, emerging-market governments defended exchange-rate pegs, which meant that stress was borne first by local interest rates rising sharply, and then through wider
external
debt spreads as currency pegs came under pressure.
Many emerging markets have become less vulnerable to
external
financing shocks and the threat of sharp, unanticipated changes in developed-economy monetary policies.
More important, austerity has been very successful in restoring
external
balance to the eurozone’s periphery.
The
external
aspect is crucial.
During the boom years, when countries like Greece, Portugal, and Spain were running ever-larger
external
deficits, their exports did not grow quickly, so their foreign debt/exports ratios deteriorated steadily, reaching levels that are usually regarded as a warning signal.
As a result, these countries’ current accounts are now moving into surplus, and their
external
solvency is improving rapidly.
Indeed, according to the IMF, Spain should record growing current-account surpluses over the next five years, as exports rise strongly, thus cutting the
external
debt/export ratio by half (to about 150% in 2018), while Portugal’s ratio should fall to about 250%.
Even Italy, whose
external
deficits have remained small, will soon record a current-account surplus.
The
external
fundamentals of the eurozone’s periphery are now improving rapidly.
Overspending countries are now retrenching, owing to the need to reduce their private and public spending, to import less, and to reduce their
external
deficits and deleverage.
Putin lacks a strategy for Russia’s long-term recovery and reacts opportunistically – albeit sometimes successfully in the short run – to domestic insecurity, perceived
external
threats, and the weakness of his neighbors.
The political implications recall the experience of the twentieth century, when the pound’s
external
value was a national obsession in the UK and currency crises regularly destroyed the credibility of governments and wreaked political havoc.
Despite extraordinary growth since the start of its transition to a market economy in 1979, China is facing serious challenges simultaneously: rising inequality, large and growing levels of environmental degradation, stubborn
external
imbalances, and an aging society.
In fact, because they hurt economic growth, further reducing countries’ ability to service
external
debts, higher interest rates can be counterproductive.
There is a stark contrast between the deteriorating
external
situation and the continuing progress in internal reforms.
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