Word: dollarization
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...worked with a manager who tunes most people out after fifteen words. His rationalization is that everyone should be able to get their point across in 15 words or less-or else it's not worth the time to listen. Complex multi-million dollar projects were decided by summaries of summaries...
...wrong course. Opinion swung more quickly this time, as the cost-benefit analysis changed. When the weapons of mass destruction (WMD) weren't found and the Saddam-9/11 connection was discredited, the sense of urgent threat receded. However generous and idealistic Americans may be, a half-a-trillion-dollar nation-building venture is a harder case to make...
...senators are scheduled to arrive in Beijing this week, brandishing the negotiating equivalent of stone axes. Lindsey Graham and Charles Schumer are co-sponsors of a bill that would slap a 27.5% tariff on all Chinese imports unless Beijing allows its currency to appreciate significantly against the dollar, an adjustment some trade experts believe would reduce the deficit by making China's exports more expensive in the U.S. and U.S. products cheaper in China. Chinese Prime Minister Wen Jiabao, at a press conference last week, suggested the two Washington politicians could save U.S. taxpayers the airfare. There was not going...
...situation economists (and many politicians) say cannot continue indefinitely. The U.S. current-account trade deficit reached $805 billion in 2005. That amounted to 6.4% of GDP, or more than twice the size of the trade deficit in 1985, when the U.S. took the drastic step of devaluing the dollar?and the rate at which the gap is expanding is accelerating. China trade alone accounts for more than one-fourth of the deficit. That's why U.S. Commerce Secretary Carlos Gutierrez has bluntly warned Beijing that something has to give. "China's failure to address economic frictions will have consequences...
...embodies what we hope to be the future of the Democratic Party.” “Even as a Democratic governor in a highly Republican state, Warner showed an uncanny ability to get a lot done—from education reform to fixing a daunting six-billion-dollar budget deficit,” Lesser said. Honoring a politician with mass appeal goes along with the Dems’ efforts to reach out to a wider audience. “Within the past year, we have grown so much as an organization and our capacity to put on events...