Word: trillion
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...numbers are stunning. Governments around the world hold nearly $5.5 trillion dollars in reserves-an amount greater than the gross national product of any country except the U.S. China has by far the largest horde, with over $1.3 trillion in the till and almost one-quarter of the world's total. But the rest of Asia is far from poor: Japan holds more than $900 billion, Taiwan and South Korea together own over $500 billion and India's reserves crossed $200 billion this year, up more than 30% from a year ago. About two-thirds of these reserves are denominated...
...hint that Asian countries in general-and China in particular-are going to sell their dollars causes the greenback to sink and sends treasury rates higher. There is evidence that governments are worried about the size of their caches. Foreign holdings of dollar-based assets doubled from $1 trillion to $2 trillion from the end of 2001 through to the spring of 2005, but since have increased less than 10%. China, which must continue to buy dollar assets if it wishes to keep its currency from appreciating too rapidly, has switched out of treasuries into more promising investments, such...
...only does protectionism tend to backfire-to eventually cost jobs rather than to save them-but the global economy has already grown so interconnected that bashing China and making a scapegoat out of India could wind up hurting the developed economies. Economists calculate that international trade adds about $1 trillion a year in benefits to the U.S. economy. Even the offshoring of white-collar jobs, despite the hardship it brings for laid-off workers, is a net gain for developed nations like the U.S. and Japan, as well as for the country where the jobs land. Every dollar of spending...
...volume of M&A deals in the U.S. alone surged to $1.49 trillion in 2006--a level not seen since the tech boom in the late 1990s, when annual activity topped the $1.5 trillion mark just prior to the dotcom crash, according to market-research group Dealogic. And it's only halftime. Through early July, M&A volume totaled $1.17 trillion, up from $761.5 billion during the same period a year ago, the first time that M&A volume has topped the $1 trillion mark in the first six months of a year. Private equity accounted for about...
...trillion...