Question 1: Describe briefly the advantages and disadvantages of i) the floating and ii) the fixed exchange-rate systems. Which do you think the world will move toward in the future?
Question 2: China is seen as a fixed-rate regime, and was even an issue in the last Presidential election (see https://www.nytimes.com/2012/10/15/business/global/china-contends-market-sets-value-of-its-currency.html)
China denies manipulating its currency - but it (undeniably) does - how does this help China and hurt the US?