Word: centralization
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Dates: during 2000-2009
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...Until now. As the world reels from the worst recession since the 1930s - a recession triggered by faulty U.S. economic stewardship - a vociferous chorus of critics is calling for a coup to topple King Dollar. In late March, Zhou Xiaochuan, the governor of China's central bank, said the global economy would be better off with a "supersovereign" reserve currency, in place of one issued by a specific nation - in other words, the dollar. "The frequency and increasing intensity of financial crises," Zhou said, "suggests the costs of such a system to the world may have exceeded its benefits." Zhou...
...what would take the greenback's place? Economists say that China's suggestion of turning to SDRs might be viable, since SDRs are already considered a core part of central-bank reserves. But global traders would have to begin denominating transactions in SDRs instead of dollars, and there is no sign of that happening anytime soon. Portes of the London Business School says using SDRs as the top international currency is "not impossible," but he adds that "the fundamental problem is that the issuer of the [international] currency also has to be the lender of last resort. The IMF does...
...journal Nature Neuroscience offers some hope of lasting relief. A group of neuroscientists led by Glenn Giesler at the University of Minnesota, Minneapolis, hypothesized that the mechanism by which scratching relieves an itch takes place not along the nerve fibers of itchy skin but deep within the central nervous system - specifically, in the spinothalamic tract (STT) neurons in the spinal cord, which transmit information about pain, temperature and touch to the brain. (Previous studies have shown that STT neurons can be activated with the application of an itch-producing chemical like histamine and that the neurons send that itch sensation...
...guests can gather around small tables next to crackling fires. The chef uses ingredients from nearby purveyors, like Machin's butchers in Henley, and has even been known to barter a meal in exchange for locally grown vegetables. Conveniently, the Olde Bell is within an hour's drive of central London, making it the perfect stop for a pint of ale and some braised mutton chops (theoldebell.co.uk...
...some less-than-stellar team results, the Crimson took advantage of the tough conditions to tinker with its lineups and display some of its depth in the Dellenbaugh Trophy Women’s Intersectional in Providence, R.I., the Southern New England Team Race in New London, Conn., and the Central Series Three regatta in Medford, Mass.“Our first really windy regattas of the year necessitated that we try some new combinations,” senior Megan Watson said. “It was windy the entire weekend, which made it difficult on our crews, and they...