Word: rising
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...Those steering Taiwan's arts scene say cross-strait traffic has grown steadily over the past 10 years or so, helped by China's economic rise and fewer government restrictions from both sides. Stronger financial support for Chinese performers traveling to Taiwan has come in the wake of China's new wealth. So has a flurry of private arts promoters, keen to bring Taiwan artists to the mainland, where they are a big box-office draw. But deeper processes are at work, too. "Culture doesn't take sides, so the issue of arts exchange isn't so sensitive," says...
Hubbard gave his mostly positive take on the state of the global economy, then asked for questions. Richard Feng, CEO of furniture maker Markor, went straight to issue No. 1 in U.S.-China economic relations: the ever louder demands from Capitol Hill that China let its currency rise as much as 40% against the dollar. That would, in theory at least, make Chinese products more expensive in the U.S. and U.S. products cheaper in China. Americans would buy less, the Chinese would buy more, thus reducing the huge trade imbalance between the countries-- $20 billion in May alone...
...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...
...River in Sichuan, Hubei and Anhui provinces. The Three Gorges Dam on the Upper Yangtze began to release flood water Monday, and boat traffic in the dam's lock was stopped. "The Three Gorges Dam has opened 18 sluices and the water level in the reservoir will continue to rise," a worker told the state-run Xinhua news service. "The safety of the dam will be tested." To the north, the level of the Huai River has begun to drop, but not before causing widespread destruction in six provinces. Flooding has also affected the Xinjiang region in west China...
...Madain, to the southeast of the capital, was an obvious fallback position for Sunni and Shi'ite militants. Until this spring, the U.S. presence there had consisted of only a couple of companies that patrolled in Humvees, but a brigade was assigned to the area in anticipation of a rise in insurgent and militia activity in response to the surge...