Word: floodings
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...developing domestic financial sector from shifts in the global economy. China sees its controlled currency as a "dam surrounding a reservoir, and the government doesn't know what would happen if it blew up the dam," says David Li, an economist at Tsinghua University in Beijing. "Would water flood out because the level inside the dam is higher than outside or would the opposite happen? That's what they are afraid of, that uncertainty." Li believes it could take 15 years for China to make the yuan a fully convertible currency. Laurence Brahm, a China expert and author...
...this credit flood has been directed mainly at large, state-owned companies. It has not been trickling down to the country's private small- and medium-size enterprises (SMEs), which continue to have difficulties securing loans, even though the global credit crisis has abated. The People's Daily newspaper reported in late June that SMEs have received less than 5% of the total volume of loans. That's not just a problem for private business owners. Because their firms do a better job of creating employment than state-owned enterprises, the credit crunch creates headaches for policymakers trying to limit...
When the G-8 summit begins in Italy on July 8, it will undoubtedly garner a flood of attention for its host. But while Prime Minister Silvio Berlusconi was planning to bask in the results of his bold, last-minute decision to switch the site of the meeting from La Maddalena on Sardinia to L'Aquila, the central city still reeling from April's deadly earthquake, it is the stories of Berlusconi as a party guy that are capturing the imagination...
...Peter L. Bernstein was 70 and had led a full life. An intelligence officer during World War II, he later taught economics, ran an investment firm and edited the wonky but influential Journal of Portfolio Management as a flood of new academic research transformed investing in the 1970s...
...impossible for an outsider, in Iran for 10 days, to sift through the governmental opacity, the contradictory demonstrations, and predict what comes next. It seems likely that no matter how many people flood the streets in protest, the Supreme Leader will continue to back Ahmadinejad. It also seems likely that while Barack Obama should continue to press for negotiations, he shouldn't be too optimistic about the prospect of success...