Trace the impact on commercial and central bank balance sheets of the following: a. A German tourist

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Trace the impact on commercial and central bank balance sheets of the following:

a. A German tourist paying her hotel bill in Italy

b. A Chinese tourist paying her hotel bill in Italy

Is your answer affected by how the two tourists pay their bills? Does it matter whether the Chinese tourist buys her Euros before leaving China?

What if they pay by credit card?


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