Word: dollarize
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
China is the most obvious example. But there's also Saudi Arabia and its Persian Gulf neighbors, overflowing again with oil wealth. Even Japan, while not exactly booming, has seen its currency remain curiously weak during the dollar's long fall...
...haven't these countries' currencies been gaining on the dollar? Because their governments won't let them. China's dollar peg, established in the mid-1990s, is often portrayed in the U.S. as a mercantilist attempt to sell more stuff here (if the Chinese yuan is cheap relative to the dollar, imports from China are cheaper too). But there's much more to it than that: by reining in the often pointless fluctuations of currency markets, countries can bring stability and encourage trade...
These days, China and the other countries participating in what some have called Bretton Woods II export so much more to the U.S. than they import, they find themselves with hundreds of billions of dollars that they don't know what to do with. Up to now they've been content to recycle most of them by buying Treasury bills and other U.S. securities. The U.S. has enjoyed the low interest rates that have resulted, while China, the gulf states and Japan haven't wanted to face the consequence that by selling dollars, they would decrease the value of their...
...forever. It should unravel; that's the way of economic change and progress. But there's no plan in place to make it happen in an orderly fashion. The fear that the ensuing adjustment might be even more chaotic than in the 1970s probably explains most of the dollar's recent decline. It's not that we Americans have gotten a lot poorer. It's that we might be about...
...create a lifelong remembrance." But Novak is the sappiest. At the helm of KFC, he carried around floppy rubber chickens in his briefcase, so he could give them out and surprise a deserving employee. Novak would then autograph the chicken and hand the befuddled employee a crisp hundred-dollar bill. Which brings up the obvious: no stunt or roadside chat says "Thank you" quite as well as cash...