Word: dollarization
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...Bernie Ecclestone has managed to build and retain a truly world-encompassing empire since the 1970s. It's worth noting that, in the same time frame, Italy, among other countries, has formed dozens of ineffectual governments. With so many vultures attempting to take over Formula One's billion-dollar circus, it's not surprising he's circumspect and wary about lowering his defenses. Martin Toohey Sydney...
...Kerri Leonard, high school teachers outside San Diego, were griping about the rising cost of groceries when they decided to see what life is like for the billion people on earth who spend $1 a day on food. The couple's blog took off, and their book, On a Dollar a Day, hit stores in February. They're part of a growing population of consumers chronicling their efforts to do without, swearing off such things as riding in cars and buying clothes - or buying anything new at all. And they're not making these vows simply to save money...
These kinds of experiments are designed to be a shock to the system, but do they have any lasting effect? Greenslate and Leonard decided from the get-go that they would do their dollar-a-day diet for just a month, and even that limited period wound up being a major challenge both mentally and physically. They were so hungry, they experienced dizziness at work, crabbiness at home and extreme boredom of the tongue after too many bland meals of oatmeal or beans. A nightly dollop of peanut butter was the only indulgence that fit the budget. (See more ways...
...February, President Barack Obama told the crowd at a Henderson, Nev., high school that not so long ago, the U.S. made barely 2% of the advanced batteries used in the world's electric vehicles. Now, thanks to a multibillion-dollar federal investment, American companies are positioned to increase production tenfold - and potentially control 40% of the global lithium-ion-battery market by 2015. "We've created an entire new industry," Obama said...
...visit to Washington will come just days before an April 15 deadline for U.S. Treasury Secretary Timothy Geithner to issue a semiannual report that could label China a currency manipulator. China's currency, the renminbi, has been pegged to the dollar, and many economists say it is undervalued, giving Chinese exporters an advantage over their competitors in the U.S. and elsewhere. Some U.S. lawmakers have been pushing Geithner to declare China a manipulator, which would force talks between the two sides and the International Monetary Fund and could create momentum for Washington to adopt protectionist measures...