Word: surplus
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...Politics mostly. China has a huge trade surplus with the U.S., which has Congress threatening tariffs on Chinese imports. But economics played a role too. China's off-the-charts growth would naturally lift its currency in a free market, which China is trying to achieve. This is a first step toward a free-floating yuan--possibly by the 2008 Olympics in Beijing...
...THOMAS, 83, inventor of the TV dinner; in Phoenix, Arizona. Thomas came up with the idea as a marketer for poultry company C.A. Swanson & Sons, after seeing that Pan American Airways was developing a flat aluminum tray for hot in-flight meals. Since Swanson had a post-Thanksgiving bird surplus, he devised a multicompartment tray for the turkey and accompanying side dishes. Introduced in 1954, the dinners took off, selling 10 million that year and earning Thomas a raise and a spot on Hollywood's Walk of Fame...
...Still, this initial yuan adjustment will do very little in itself to address China's yawning trade gap. Merrill Lynch predicts that China's trade surplus could exceed $90 billion this year?nearly three times larger than in 2004. U.S. critics of China will likely keep agitating for a full float of the yuan?mean-ing that it would trade at whatever exchange rate the market determines. "We expect more," said U.S. Senator Charles Schumer, one of the sponsors of the bill that would impose a punitively high tariff on Chinese imports...
...THOMAS, 83, inventor of the TV dinner; in Phoenix, Ariz. He came up with the idea as a marketer for poultry company C.A. Swanson & Sons, after seeing that Pan American Airways was developing a flat aluminum tray for hot in-flight meals. Since Swanson had a post-Thanksgiving bird surplus, he devised a multi-compartment tray for the turkey and accompanying side dishes. Introduced in 1954 with a package resembling a TV set, the dinners took off, selling 10 million that year and earning Thomas a raise, a spot on Hollywood's Walk of Fame and hate letters from husbands...
...divided the Church of England from its Roman Catholic cousin. But the two European churches have come together recently to count their blessings - in euros and cents. The Vatican announced last week that it was in the black for the first time in four years, netting a 2004 surplus of nearly €3.1 million. Meanwhile, assets managed by the Church of England's Church Commissioners have fattened to $7.6 billion as its investment portfolio - which helps pay for priest pensions - continues to outperform the market. In March this year, London church officials hailed a yield of 13.6% for 2004, putting...