"Manufacturing companies with complex and lengthy international supply chains, such as the automotive industry, could also face significant challenges. These developments could also have a significant impact on productivity growth. " Under the conditions of open economy, the scale of international capital flows is huge, which greatly exceeds international trade volume, indicating the great development of financial globalization. The impact of interest-rate differentials on exchange rate movements is more important than in the past. When a country tightening credit, interest rates will rise, character formed in the international market interest rate difference, will cause the short-term funds internationally mobile, capital generally always is flowing from countries with low interest rates to countries with high interest rates. The European central bank's interest rate and previous decision to taper its bond purchases have been stable: capfafenbach Historical costs differ from current values