Word: dollarization
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Dates: during 2000-2009
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...economy of its own, one that will demand more and more of China's own goods. So will this be the ruin of China? Certainly not, but its growth will slow. And bringing more production to the U.S. can only help our own economy, lending it stability, bolstering the dollar and weaning down our debt...
Moscow is particularly unhappy about the E.U.'s offer to include Belarus - traditionally a staunch Moscow ally - in the Eastern Partnership, albeit on the condition that Minsk improve its shoddy human-rights record. When the E.U. recently offered a multibillion-dollar loan to help modernize the Ukrainian pipeline system - conduit for 70% of Russian gas sales to Europe - Russian leaders were furious. Moscow has also tried to foil European attempts to build stronger energy links with Azerbaijan. Potential for conflict exists in Georgia, where E.U. observers are the only ones left after Russia forced Organization for Security and Cooperation...
...Sacramento A Race Against Time to Make Ends Meet In the hours before a July 1 deadline to pass budgets for the 2010 fiscal year, lawmakers in 10 states scrambled to make up for billion-dollar shortfalls by proposing everything from taxing cell-phone ringtones to closing state parks. While Mississippi, Indiana and Delaware made the cutoff, others did not. Ohio and Connecticut will keep the lights on without an official budget in place, while California, which faces a $24 billion deficit, announced plans to issue IOUs until representatives can resolve a legislative stalemate...
...fact, the U.S. might turn out to be more competitive. American dominance has in recent years been a mixed blessing. Many countries got addicted to selling to American consumers and poured capital into the U.S. to keep the buying going. These inflows kept the dollar strong, making life tough for U.S. exporters; they also saddled Americans with the unsustainable debt loads that led to the financial crisis. Now no one abroad is willing to lend to deadbeat American households, and the U.S. government has temporarily taken over as the world's chief borrower and spender. But as we've just...
...market. Oil is an international commodity, traded by Americans and non-Americans alike on exchanges both in the U.S. and overseas. The U.S. should not outsource markets by placing a divide between America and the rest of the world. Do regulators hoping to ease oil prices really want the dollar price of oil determined in Dubai, the backyard playground of the largest oil exporter? With the proposed regulation, foreign oil suppliers will have a greater futures-market share. The oil market will become more susceptible to manipulation by these suppliers...