Word: yuan
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Hardest hit around the globe are the Europeans, whose exports are being squeezed by the cheap dollar and equally cheap Chinese yuan, which, to the dismay of global leaders, remains pegged at 8.3 yuan to the dollar. China has a large and growing trade surplus with the U.S., and American and European officials argue that the cheap currency gives the Chinese an unfair advantage. Some Europeans are taking advantage of the robust euro to come to the U.S., where everything from iPods to Gap jeans to four-star-hotel stays are suddenly a bargain. (Bookings are up 30% at Germany...
...deficit; the U.S. wants Europe to stop whining and stimulate its economy, which would generate domestic demand and offset business lost to the U.S. and China because the weak dollar has made European goods so much more expensive. Both European and U.S. officials want China to revalue its yuan. With a hot economy and trade surplus, the Chinese, many Westerners believe, can handle a stronger currency, and there are signs that they will go along. The cheap yuan has begun to translate into higher inflation in China. A stronger currency would relieve some of that pressure. And two weeks...
...Bush administration has moved from strong words to pleas in attempts to make the Chinese revalue the Yuan as the U.S. dollar’s value has slid, and the only substantial victory seems to be a free trade deal with Australia to which the agricultural lobby of the U.S. was brought kicking and screaming to the table, such that the deal took nine months longer to bring forth. With that kind of resistance, a free trade deal with a larger country does not look promising...
...Antonio L. Perez, Shira R. A. Pinnas, Alexander J. Post, Karl C. Procaccini, Krishna A. Rao, Michael B. Schnall-Levin, Julia A. Stephens, Aditya V. Sunderam, Manik V. Suri, Vaughn Y. H. Tan, Nadim N. Vasanji, Ajit Vyas, Daniel B. Weissman, R. Christian Wyatt, Yan Xuan, Wen-Chi A. Yuan, Minhua Zhang and Brian F. Zingale...
...Yuan ’06 heard about the offer through his brother, who told him that all his friends had received one, and he even knew of someone who had received two by completing the offer twice...