Word: rising
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...factor that could weigh on China's continued export growth is its strengthening currency. After years of urging by Washington, Chinese authorities have allowed the yuan to rise about 5% against the dollar over the past 18 months. That makes Chinese goods more expensive in America, and the pinch is already being felt by some of China's manufacturers of textiles and other low-end merchandise. The annual trade fair in Guangzhou, a city at the vanguard of China's march toward capitalism over the past two decades, was overcrowded as usual last October with prospective foreign buyers of toys...
...That globalist warning bell may ring true in Davos, but in Thailand, ground zero of the 1997 Asian financial crisis, economic protectionism is on the rise. "There are several members of the coup Cabinet who believe Thailand is too dependent on foreign investment," says Supavud Saicheua, head of research at Phatra Securities in Bangkok. "They believe it's their duty to fix things before global economic trends negatively affect Thailand." In a country where the King is widely revered, the junta's Cabinet has shrewdly tied its closing-door strategy to an existing royal mandate. After the regional financial meltdown...
...more open than many of its neighbors'. But in hot investment destinations like Vietnam and China, the trend is toward fewer restrictions, not more. Nor have recent trade figures justified the pleas for protection by Thai exporters, which led to the controversial capital controls. Despite the baht's 15% rise in 2006, Thailand's exports actually climbed 17% last year, to $130 billion. So who loses out? In the short term, mainly foreigners. But given Thailand's dependence on overseas investment, such protectionism may backfire. "The repercussions of these policies will eventually affect Thais too," says van Haren. "There...
...candidacy has helped highlight a question that dogs Clinton constantly: even if she wins the nomination, can she win a general election? In fact, it's Obama, not Clinton, who seems to have struck the most fear in potential Presidential rivals: Edwards' staff has watched the Obama boomlet rise with particular trepidation, and it's a safe bet that the enthusiasm Obama drew in New Hampshire helped seal Indiana Senator Evan Bayh's decision...
...stabilize global markets by encouraging foreigners to buy more U.S. goods. Americans, on the other hand, will buy more domestic products, as imports will become more expensive. Feldstein called the U.S. trade deficit “enormous,” but said he believes that the savings rate will rise. A U.N. economic report released on Wednesday warned that as the U.S. trade and budget deficits continue to widen, “confidence in the dollar as the world’s main reserve currency could erode rapidly.” Gernot Doppelhofer, a university lecturer and fellow of Trinity...