Word: dollars
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Dates: during 2000-2009
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Another summer, another Asian fundraising tour by Europe's top soccer clubs. Cashing in on the game's popularity in the region, Real Madrid and Manchester United between them last week kicked their way through Hong Kong, Bangkok, Tokyo and Beijing, racking up multimillion-dollar appearance fees along the way. Lesser teams, too, are parading before Asian fans. Rotterdam's Feyenoord went to work in Nanjing late last month, and even Sheffield United, from England's second division of clubs, rounded off its own three-game tour of China last week. The team's big attraction? Veteran Chinese star...
With the support of University President Lawrence H. Summers, Narayanamurti set into motion a 10-year, half-billion dollar plan to overhaul DEAS, expanding the full-time equivalent faculty from 60 to about...
China revalued its currency last week, allowing it to rise 2.1% against the U.S. dollar. No longer will the yuan exactly track the buck, as it has for nearly a decade--which has kept the yuan's value artificially low and made Chinese goods cheap in the U.S. Here's what it all means...
...goes as planned. But a strong yuan may stoke inflation in the U.S., as importers raise prices to protect their profits. There's also a risk that as China bolsters the yuan it will reduce its dollar purchases, which means buying fewer Treasury bonds. That could push long-term interest rates higher in the U.S. and slow the housing market and the economy. But most believe that China, which took forever to go this far, will move slowly enough to avoid these traps. --Daniel Kadlec
...country of origin of the cultural goods," notes a 2004 United Nations report. It estimates the international trade in "looted, stolen or smuggled art" at $4.5 billion to $6 billion a year. In p.n.g., says museum director Eoe, the trade in illegal artifacts is probably "a multi-million-dollar business, but we don't really have any idea of the true extent...