The title map is from Visual China, this article is from WeChat public number: Global Market Detector (ID: hygyjy) , author: YGAMN & chdr
What is Eurodollar?
Eurodollars are unsecured dollar deposits held outside the United States.
They are not governed by US law or regulated by the US reserve system. The term Eurodollar appeared long before the euro, and “Eurodollar” has nothing to do with Europe.
European dollar is similar to European bonds. European bonds are not euro-denominated bonds, but bonds issued in a currency different from the country where the issuing company is located. For example, the Samurai bond (that is, bonds issued by non-Japanese issuers in Japanese yen) is also a European bond.
Take some examples from daily life, dollar loans required for new world-class golf courses in Asian countries, Mexican real estate developers buy hotels in dollars, and a European pension company borrows euros to exchange dollars for dollars Assets, an African retailer imports Chinese-made toys for sale and pays in US dollars-these are examples of the global European dollar market.
Background introduction of Eurodollar
So, how did the Eurodollar system form and how did it develop into today’s huge market?
Some simultaneous events in the late 1950s