Word: greater
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...Beijing's leaders may also see China's own currency, the yuan (also known as the renminbi), as a possible alternative to the dollar. There are indications that China intends to make the yuan a greater factor in international trade and investment, a development that, if successful, would have major implications for the global financial system. HSBC economist Qu Hongbin believes that the yuan could become one of the top three currencies in the world by 2012, with some $2 trillion in trade transacted in the Chinese currency each year. "The internationalization of the renminbi has become a leading item...
...There are signs, though, that Beijing may be slowly changing its policy toward the yuan in ways that could, over time, lead to its greater use on a global scale. Most notably, China and Hong Kong launched a pilot program this month through which Hong Kong banks can begin settling cross-border trade transactions in yuan for selected Chinese companies. This step will likely increase the use of yuan in Hong Kong, one of the world's premier financial centers. (The program also solidifies Hong Kong's role as China's chief financial hub.) This step follows a series...
...China's motivations to boost the global standing of the yuan stem from the same concerns as its calls for a new reserve currency. Greater use of the yuan in trade would improve the competitiveness of Chinese exporters by reducing transaction costs and currency risks. By internationalizing the yuan, says HSBC's Qu, China can also begin extricating itself from the "dollar trap," in which the country, through its trade, amasses giant surpluses of dollars, which forces it to invest in dollar assets. This is why China, which holds $805 billion in U.S. Treasury securities, is the U.S.'s largest...
...Iranian election has made the job ahead much harder. But the determination to find ways of building fresh trust and to create a strong diplomatic process has never been greater...
Although the current version of the Mothers Act does not specifically include funding for PPD testing, an earlier one did (it was based on a New Jersey law that mandates universal PPD screening), and critics say the new act will naturally lead to greater use of screening if it passes. Opponents of the bill contend that mental-health screens are notoriously prone to giving false positives - research suggests that as few as one-third of women flagged by a PPD screen actually have the condition - and say testing is a gambit by pharmaceutical companies to sell more drugs...