Word: dollarization
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...bought up some $1 trillion in U.S. debt, making it a major financier to the American credit binge. There have been longstanding fears that Beijing would at some point stop buying U.S. Treasury securities. That is unlikely because it could spark a selloff that would cause the U.S. dollar to plunge in value, eroding China's huge dollar holdings. Besides, China is still earning billions a day through its exports and "has to do something with the money," says one senior Beijing economist who asked not to be named. He and others note that a sudden move into the euro...
...What China will likely not do is buy direct stakes in troubled banks, says economist Arthur Kroeber of Beijing-based Dragonomics consultants. "They have been burned already and will be very cautious," Kroeber says, referring to previous multibillion-dollar investments in companies like Blackstone and Morgan Stanley that have plunged in value. On Oct. 6, Ping An, one of China's largest insurance companies, announced it was forced to take a $2.3 billion write-off on an investment it made in the ailing Dutch-Belgian financial giant Fortis...
...helped Buell boost U.S. sales 15% over the past year, even though the motorcycle industry's sales as a whole are flat because of the economic downturn. At $11,995 a pop, these toys aren't cheap. Still, 55% of the company's market remains overseas, and a weaker dollar helps an exporter like Buell...
...enroll 24 million children in primary school. The U.S. only pledged a paltry $61 million over five years, despite the fact that the interconnectedness and global character of all the present crises is becoming painfully apparent. Irony is everywhere. If you think the cash for a $700 billion dollar bailout is coming from taxpayers during an election year, think again: It’s coming from Beijing’s stockpiled reserves...
...things look even worse. Arizona is projecting a billion-dollar budget shortfall, as is California. New Jersey is falling $1.7 billion short, while New York is $1.2 billion behind. Among the cities that have already announced spending and job cuts are Indianapolis, Tempe, Ariz., Columbus, Ohio, and New York City. "The economy has changed rather dramatically," says Christopher Hoene, director of research at the National League of Cities. "We're going to be facing this for the next two or three years...