Student or Learner
Inadequacy of International reserves is proved by the increasing BOP difficulties experienced by the deficit countries. International liquidity has failed to grow fast enough to meet the growing demands for it. Meanwhile some redistribution of reserves has taken place between the countries of the world. During the 1960s it was away from US and CPCs the countries which gained in reserves as a result were france, germainly. Italy, Belgium and Scandinavian countries. During 1970s the world reserves has moved over to the OPEC countries of the Middle East the non oil LDCs have suffered loss of reserves.
Could anyone explain the above paragraph with your own words?
Yes, but how about you?