Word: yuan
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Dates: during 2000-2009
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...Kick the can down the road. The biggest economic deal for President George W. Bush was to get China to bend on its currency, the Yuan. China wouldn't budge - why should it, given how much of the U.S. debt it is financing? The answer: form a U.S.-Chinese panel to study the issue. Don't count on much to happen, despite a few rhetorical signs of flexibility from the Chinese...
...American goals here?ll be tough. Bush wants the Chinese to strengthen the Yuan so that we?ll be able to sell our goods more easily in China and Chinese goods will cost more here. But whittling away at the U.S. trade deficit-which now runs an annual rate of $433 billion-won?t be that easy. China isn?t budging on the Yuan. It likes its big trade surpluses. And with the U.S. borrowing so much from China to finance the budget deficit, our leverage isn?t much better than yours when you get your Visa bill...
...cheap, too. "Our signature brand is affordable," allowed Zhang, leading me to shelves of Yanjing's 15 varieties. The stuff from a local xiaomaibu costing two yuan (about 25?) is the Refreshing brand, weighing in at 4% alcohol by volume. Other varieties range from Low Alcohol (2.8%) to Style Draft (3.1%), to King (4.3%) for nights when you need something stronger. And there's Yanjing Alcohol Free for when...
...trade surplus with the U.S. was $103 billion, twice what Japan's was at the height of Japan bashing 12 years ago. With its abundance of cheap labor, China can undercut American manufacturers of everything from toys to furniture to clothes. China has long pegged its currency, the yuan, to the dollar, and not long ago U.S. policymakers had nothing but praise for the way China managed its foreign exchange. In the Asian financial crisis of 1997-98, China did not devalue the yuan?and hence make its exports cheaper?when other Asian nations did. Had Beijing followed the herd...
...first annual letter, Dean of the Faculty William C. Kirby left his colleagues with a cryptic message—Xing yuan zi er, deng...