Word: dollarize
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Dates: during 2000-2009
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...bank is making foreign investments, not inviting them, with three recent plays in Mexico, Brazil and China. Lewis says those limited stakes are as far as he plans to go. "I don't see buying any bank," he says. Then again, he says of his last three billion-dollar acquisitions: "Certain things came our way." If a good deal calls, Ken Lewis will be listening...
...serious are the consequences likely to be? Much more could go wrong: a collapse of the dollar, or of U.S. consumer confidence as house prices continue their fall. But on balance, the denizens of Davos would be well advised to keep up their sunny spirits. Taking the long view, the global economy is at a remarkable moment. Whatever the chance of a recession this year, the U.S. has experienced what the economist and former Under Secretary of the Treasury for International Affairs John B. Taylor of Stanford University calls a "long boom" since the Fed started to squeeze inflation...
...exchange rate remains a contentious issue. Since China's currency, the yuan, was delinked from the U.S. dollar in July, 2005, it has appreciated about 14% against the greenback. However, because of the declining international value of the dollar, the yuan has depreciated by some 6.4% against the euro. This has made the Europeans very unhappy. Their trade deficit with China is now also very large...
...would put in place fuel economy standards by 2020 that are lower than standards China will enact next year. “Our priorities are so screwed up, it’s depressing,” he said. “If, instead of spending seven to nine billion dollars a month in Iraq, we put seven to nine billion dollars a year into this, there would be a stunning output.” Kerry said that while he is working with like-minded colleagues—notably Sen. Joseph I. Lieberman (I-Conn.) and Sen. John W. Warner...
...support the production and distribution of films that entertain as well as enlighten - films that will enhance the connections that already exist between different societies, but are seldom noted on screen and in popular culture." And Qatar princess Sheika Moza bint Nasser-el-Missned announced a multimilli-dollar investment in Silatech, a global initiative designed to help youth around the world find meaningful employment...