Word: yuan
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...addition, China is increasingly worried that an economic slump in the U.S. and Europe will curtail its export growth, dealing the Chinese economy a serious blow. To keep the prices of its exports competitive, Beijing has reversed a policy begun three years ago that allowed its own currency, the yuan, to gradually increase in value relative to the dollar. After rising 6.4% during the first half of 2008, the yuan has been flat against the dollar since July...
...factory's human resources department: "In August 2004, two months after she arrived, Min collected her pay and left without telling anyone... she spent the night in a hotel near her factory; while she slept, someone broke the lock on her door. The thief took nine hundred yuan [about $130] and Min's mobile phone, the only place where she had stored the numbers of everyone she knew in the city: the ex-colleague who was her only link to her new job, the friends she had made since going out, and the boyfriend who had gone home... With...
After back-to-back disgraces, the Chinese coaches may have gotten their teams clean, but they also disappeared from the medals tables. "We are working hard to rebuild our credit in international swimming," Yuan Jiawei, former chief of the Chinese swimming association, told the Chinese state media in 2004. "It will be a long-term effort." By the 2004 Athens Games, that campaign had begun to pay off. China captured a gold and a silver in swimming with nary a failed drug test...
...popular destination is the hair salon, where stylists shout at passersby offering a can't-miss deal: a trim, wash and blow-dry, for the unbeatable price of zero yuan. "They wrap you in," says Canadian field-hockey player Ravinder Kahlon. "They're like 'Hair! Wash!' Next thing you know I'm getting a cut." You need the right 'do for the medal stand, don't you? (And to impress that stunning Brazilian volleyball player.) Plus, too thick a coif can slow you down in the Beijing heat...
...office, Paulson's most high-profile relationship-building efforts were with the Chinese government, in a series of top-level meetings in Beijing and Washington. These weren't a flop - Paulson proudly points to the failure of anti-China trade legislation in Congress and the 20% rise in the yuan vs. the dollar - but they weren't a dramatic success either. Then came trouble, which spread from subprime mortgages to financial markets in general in August 2007. The chief connection was that subprime loans - those sold to less qualified borrowers - were purchased and repackaged by Wall Street into supposedly...