Word: exportations
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That summation captures the mainstream opinion among economists and within the Bush Administration: China's export boom has been a good thing for the world economy, they say, but now it's in everybody's interest for China to reduce its trade surplus by boosting its consumer spending and letting its currency steadily rise. The U.S. would benefit because its exports would increase; China would benefit because a stronger currency would make its citizens wealthier, increase its global economic clout and keep inflation down...
...issue is straightforward enough, even if few countries have ever had to deal with it on this scale before: thanks primarily to its thriving export industries, China has $1.4 trillion (and counting) in its pocket, and has to put it somewhere. For years, the investment of choice has been the drab solidity of U.S. Treasury bonds. But as the dollar drops, and higher returns can be gained elsewhere, China has begun to eye more alluring places to stash some of its cash...
...long-term progress. An old state-owned textile mill in Tabora, which went bankrupt years ago, has recently been privatized and is being brought back to life by the new owners. Remarkably, even at a distance of several hundred miles from the nearest port, the mill is successfully exporting cotton thread to Europe and China. And Mbola's farmers have a chance to become part of that emerging success story by selling cotton to the revived mill. The farmers will also diversify into other tropical export products. And as more sections of the road from Tabora to the coast...
...disclosure of the Justice Department investigation has certainly raised eyebrows in Washington. "If the Justice Department were to find that BAE had committed a significant violation of the Foreign Corrupt Practices Act, it would automatically raise questions about how rigorously the company is safe-guarding classified information, adhering to export controls and meeting its other obligations under U.S. law," says a leading Washington expert in the area, who did not want his name used because of the political sensitivity of the topic...
...airs a popular weekly program on food-safety scandals. China's leaders, says Zweig, "know that Chinese people have this sense that they deserve better." The World's Factory After a series of product recalls, from pet food to tires, American regulators are paying more attention to the goods exported to the U.S. from China, which have surged over the past decade to more than $200 billion. How the U.S. stacks up against China's other big trading partners [This article consists of a complex diagram. Please see hardcopy of magazine.] WHO BUYS CHINESE GOODS The U.S. Accounts...