Word: dollarization
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...1970s America. We celebrated our Bicentennial, birthed both “Jaws” and “Star Wars,” and impeached a president. By the end of the decade, we were also home to around 15,000 discothèques. Disco was a four billion dollar industry, yet my mother still has an avowed hatred the most popular musical genre of her early youth. “I was really more of a funk girl,” she would claim, turning the dial as a Gloria Gaynor tune came across the radio. But dropping...
...flatter China, the world's rising economic power, and to enlist its cooperation on big, global issues like increasing the use of renewable energy and protecting the environment. And if, along the way, Beijing managed to raise the value of its currency, the renminbi, against the dollar as the U.S. desperately wanted, so much the better...
...record will show that over the course of the past two years, China did in fact raise the value of its currency against the dollar more than 15%. But it will also show that during his last visit to Beijing as Treasury Secretary - which ended today - Paulson and his team had to ask the Chinese government not to backtrack on its commitment to "continued currency reform," as a Treasury spokesman put it. The RMB has recently weakened against the dollar, raising global alarm bells that China might try to devalue it as a way to revive its gasping export sector...
...with No Name, a Dirty Harry, and find a cause beyond duty or blood sport to atone for his Korean gunmanship. This fits with Eastwood's rounding out of his familiar character in later films--challenging the audience to accept "Cleent" when he does surprising things. In Million Dollar Baby, killing was an act of mercy. Here, for Walt to put his life on the line, in a kind of suicide mission, is a final act of contrition...
...Consider that the multi-billion-dollar scale of Enron executives’ criminal conduct and its destructive effect on innocent people dwarfs the ant scam; however, former CEO Jeffrey Skilling received just 24 years in prison, and two of his associates (and accomplices) could win parole after just five years behind bars...