Word: dollarize
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Dates: during 2000-2009
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...take on the state of the global economy, then asked for questions. Richard Feng, CEO of furniture maker Markor, went straight to issue No. 1 in U.S.-China economic relations: the ever louder demands from Capitol Hill that China let its currency rise as much as 40% against the dollar. That would, in theory at least, make Chinese products more expensive in the U.S. and U.S. products cheaper in China. Americans would buy less, the Chinese would buy more, thus reducing the huge trade imbalance between the countries-- $20 billion in May alone and $233 billion...
...other side are the Chinese, who adopted a currency peg of about eight RMB to the dollar to stabilize their economy in 1994 and stuck to it even when there was great pressure to devalue after the Asian currency crises of 1997. Since 2005 the Chinese have allowed an 8% rise in the renminbi's value, but they are deeply suspicious of those who urge faster change. Never far from their minds is the sad example of Japan, which acquiesced to Washington and--many Asians are convinced--paid a terrible economic price. Adding to their suspicions is the fact that...
...thousands of hectatres of forests and scrubland across the country since June. That's nearly triple last year's total, sparking growing public concern over why Greece suffers so many forest fires, and why the country's emergency services seem ill-equipped to deal with them despite their multimillion-dollar overhaul ahead of the 2004 Athens Olympics...
...customers bring their own bags, they receive a discount of $0.05 per bag, and the store also offers reusable bags for a dollar, said Lynay J. Smith, the marketing team leader at the Fresh Pond Whole Foods...
...exchange rates that are "fundamentally misaligned" to the market value of their currencies, regardless of whether or not the government intended it for trade advantage. The bill also enables the Treasury to levy penalizing duties on imports from currency-manipulating countries. Since China stopped pegging its currency to the dollar in 2005, Senators say that the Yuan may have been undervalued by as much as 40%, making American exports to China more expensive and Chinese exports to America cheaper...