Word: cheaping
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Dates: during 2000-2009
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...admirable austerity move has quickly fueled conspiracy theories and come to symbolize the government's inability to set priorities in the face of drought, food shortages and the lingering threat of political violence. Why, average Kenyans are asking, the Volkswagen Passat and not a Toyota, Honda or some other cheap and more widely available alternative? "To me, these guys are playing around with the minds of Kenyans," says Martin Kitunga, the 37-year-old senior mechanic at New World Auto in Nairobi. "Passat or Mercedes, it doesn't make that big a difference. If they really want to make...
...There are weaknesses to Beijing's great plan. For example, cheap Chinese goods flooding the continent sacrifice African jobs, sparking a backlash against the Chinese presence. Corruption is serious, institutions are weak and political risk in various African countries remains high, meaning the possibility of social and economic breakdown is real. No one will bet their house on continued growth in many African countries. But the West should take note: China has a plan to seize the advantage should the African consumer take flight...
While you’re out and about, don’t forget to make a trip to the Holyoke Center to buy a $40 bus ticket to New Haven from the Harvard Box Office. School spirit sure isn’t cheap...
...last year. While the U.S. is unlikely to make any progress on pushing China to allow its currency to appreciate, it could make a stronger case on preventing piracy, says James McGregor, the former chairman of the American Chamber of Commerce in China. As China tries to move beyond cheap manufacturing, its companies will begin to suffer more from poor protection of intellectual property. Piracy "is still a horrendous problem here and it's alarming for the business community," he says. "It's a win-win, because China wants to build an innovation society...
...Currency During his confirmation hearings in January, U.S. Treasury Secretary Tim Geithner accused China of manipulating its currency, driving down the value of the renminbi to make Chinese exports cheap. That provoked a furious response from Beijing, and since then Geithner has toned down his message. While he expressed a belief commonly held by economists, an official finding of currency manipulation by the U.S. government would trigger negotiations with China and possibly duties on Chinese imports. In October, the Treasury Department said that the renminbi was undervalued, but that China was not a currency manipulator...