Word: exportability
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...what price to the Chinese economy? China had resisted ending the peg partly out of fear that its factories would become less competitive, which would cost the country jobs and curtail growth in its export-fueled economy. Officials for Chinese companies that compete almost entirely on price, such as those in the toys and textiles industries, say even this 2.1% increase in the yuan's value will hurt sales to cost-conscious U.S. retailing giants such as Wal-Mart and Target. Yu Zhihua, export manager for the Hangzhou Silk and Garment Import Export Corp. in Hangzhou, says her profit margins...
...company's pain is another's pleasure. The net effect on some sectors will be positive. China's automakers, for example, rely heavily on parts made abroad and export few cars. The stronger yuan will effectively lower their costs by reducing their outlay for tires and other imported components. Meanwhile, firms that have been hurt by the rising price of oil, such as airlines, will also get relief: oil is priced in dollars, so companies earning in yuan will see their energy costs decline by 2.1%. In fact, China's macroeconomic landscape is expected to remain virtually unchanged by this...
...crew of Palestinian laborers chops the long green stems from Michael Goldschmidt's amaryllis bulbs in his stuffy hothouse. Goldschmidt, 57, sells the bulbs, grown in the Ganei Tal settlement in the Gaza Strip's Gush Katif bloc, for a dollar. After export to the U.S., the plants go for almost $70. With Prime Minister Ariel Sharon's withdrawal from Gaza set for next month, Goldschmidt is taking as many of his 300,000 bulbs out of the ground as he can, in spite of his desire to stay in the place he's lived for 28 years. ?I absolutely...
...Sunni and Shi'a factionalism. Now some Iraqis worry that whatever remains of their fragile détente may be shattered by pro-Shi'a Iranian interventionism. Says Isam al-Rawi, an outspoken Sunni cleric in Baghdad: "Ahmadinejad is a man with narrow religious views, and he wants to export these." But Iraq's Shi'a establishment, which has deep ties to Iran, is nonplussed. "Ahmadinejad is a young man, a new player," says Rada Jawad Taqi, a Shi'a member of Iraq's interim National Assembly. "We have no relationship with him at all, but we have to build...
Singapore insists that the ban penalizes the nation even though it has already decided to abide by the animal-protection covenants in the Convention on International Trade in Endangered Species. Moreover, the government protests, the embargo has cut off the legitimate export of some $12 million worth of bred-in-Singapore tropical fish. ABORTION False Advertising...