Word: dollarization
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When a country or a company depends to an important degree on the U.S. for its livelihood, you might think that recent financial events there would amount to very bad news indeed. America's economy flagged in the second half of last year and the dollar has dropped sharply against the euro and other currencies, making exports to the U.S. less competitive. Yet Nicola Leibinger-Kamm?ller, for one, is still smiling...
...factor that could weigh on China's continued export growth is its strengthening currency. After years of urging by Washington, Chinese authorities have allowed the yuan to rise about 5% against the dollar over the past 18 months. That makes Chinese goods more expensive in America, and the pinch is already being felt by some of China's manufacturers of textiles and other low-end merchandise. The annual trade fair in Guangzhou, a city at the vanguard of China's march toward capitalism over the past two decades, was overcrowded as usual last October with prospective foreign buyers of toys...
...EUROPE'S OVERDUE REVIVAL Thailand's latest crisis was partly the result of a 16% increase in the value of the baht against the dollar during the first 11 months of 2006. But the euro and the pound sterling have also strengthened, with the E.U. currency rising by about 10% in the past year alone. A stronger currency makes European exports more expensive for foreign buyers. But that didn't prevent Germany from notching up a $200 billion trade surplus in the first 11 months of last year, the largest since the fall of the Berlin Wall. The good news...
...Feldstein ’61, Baker professor of economics and one-time top White House economic adviser, criticized America’s “strong dollar” policy at a convention of macroeconomic and financial experts last weekend. “We clearly need a more competitive dollar,” he said, according to reports of his remarks. “The dollar is still very high—too high to be sustained.” In a sit-down interview yesterday, Feldstein cautioned that the dollar’s strength, along with...
Meanwhile, the total cost for the proposed campus is unknown as well, according to Gordon, who did say that “it’s a multibillion dollar project for sure...