Tag: sports

X were originally created to replace Gold and Silver in large international transactions. In late March 2009 Zhou Xiaochuan, governor of the People's Bank of China proposed using X as a worldwide reserve currency in place of the dollar. Only 21.4 billion of them existed (\$31.9b) till this banking crisis, and now \$250b worth of it to be created for saving global economy. X are used to limit carrier liability on international flights (Warsaw Convention), as well as ship owner liability for cargo damages and oil pollution, international roaming tariffs etc. What is X?