Word: surplus
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Dates: during 2000-2009
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That summation captures the 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...
...step has been to help farmers harvest more food, by providing them with fertilizers and high-yield seeds. As a result, their maize yields have increased about 60%. This has helped families trapped by extreme hunger grow enough food not only to feed themselves but also to bring a surplus to market. The community has also set aside some of this year's harvest to provide a midday meal for schoolchildren...
...region is flush with surpluses, not deficits. Asian countries have piled up more than $3 trillion in foreign-exchange reserves. And while currencies were overvalued a decade ago, they are undervalued today. The bitter fight between Beijing and Washington over China's massive surplus and undervalued currency is just the most visible part of this phenomenon. With the numbers the region is racking up, no currency trader would bet her Starbucks latte against Asian economies, let alone put real money into attacking Asian currencies. Banks around the region have been cleaned up. The fanciful projects of a decade ago-such...
...German economy is similarly healthy, growing 2.8% last year, and it is once again acting as a powerful motor for the rest of Europe. Surging exports pushed the nation's trade surplus to more than $200 billion. Germany's economy has also undergone significant re-engineering to loosen some of its infamous rigidities. The government has cut corporate taxes and reduced the burden of some nonwage costs on business, such as pensions and health care. It has shaken up its labor market, which has led to a drop in unemployment (although the proportion of jobless, at 8.8%, is still well...
...only on wines that are recognized as high quality. And it will call for a budget of $580 million for the 2008-2009 season to reimburse farmers to "grub up," or rip out, 400,000 acres of vines - 6% of the total in the E.U. - that contribute to the surplus...