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...will the People's Bank of China, the Reserve Bank of India, the Reserve Bank of New Zealand, the Monetary Authority of Singapore - and perhaps several months down the road, the European Central Bank. As economies recover and jobless rates fall, most policymakers will raise interest rates to head off the inflation that could result from the massive fiscal stimulus spending launched by governments around the world to combat the global recession. (See pictures of the global financial crisis...
...Buffett, who describes the metal as having no utility, something that gets dug out of the ground, melted down and then buried again in another hole guarded by people who are paid to do the job. "Anyone watching from Mars," says the Sage of Omaha, "would be scratching their head...
...Then again, the hypothetical Martian would also scratch his head at the notion of paper money. The dollar has no intrinsic value. It has become the world's storehouse of value because it is backed by the economic might of the U.S. If another super-economy emerges, be it the European Union, China, India, Brazil or Russia, then that new power's currency could replace the dollar as the world's reserve currency, just as the dollar replaced sterling in the last century. (See pictures of the best-selling cars in China...
...Last year CCTV created French and Spanish channels, and this year it added Russian and Arabic. The official China Daily newspaper began publishing a U.S. edition, and the Global Times, a nationalist tabloid run by the People's Daily, launched an English-language version. In January, Liu Yunshan, the head of the Communist Party's Propaganda Department, laid out the global media strategy in Qiu Shi, a CCP magazine. "It has become an urgent strategic task for us to make our communication capability match our international status," he wrote. "Nowadays, nations which have more advanced skills and better capability...
...message heard. An August Qiu Shi article complained about the dominance of the global media by a small number of conglomerates like Murdoch's News Corp. and Time Warner. But in China, oversight of CCTV and Xinhua is consolidated in the hands of the party. When Li Congjun, head of the Xinhua News Agency and chief organizer of last week's event, noted during the summit that "there is some misunderstanding" that Xinhua was a "traditional media organization," Human Rights Watch researcher Nicholas Bequelin said he thought Li was preparing to be unusually candid about the party's role...