Yuan vs. Dollar
Chinese Premier Wen Jiabao says his country will not appreciate its currency for the foreseeable future while it slowly sells off its dollar reserves; Paul Krugman says a yuan appreciation would boost the world economy.
Chinese Premier Wen Jiabao says his country will not appreciate its currency for the foreseeable future while it slowly sells off its dollar reserves; Paul Krugman says a yuan appreciation would boost the world economy. "'I don’t think the yuan is undervalued,' Wen said at a press conference in Beijing marking the end of China’s annual parliamentary meetings. Dollar volatility is a 'big' concern and 'I’m still worried' about China’s U.S. currency holdings, he said. Wen urged America to 'take concrete steps to reassure investors' about the safety of dollar assets, repeating concerns that he expressed a year ago, sparked by a growing U.S. fiscal deficit. Treasury Department figures show China’s holdings of Treasury securities dropped for a second month in December to $894.8 billion. Wen’s comments come as lawmakers in the U.S. call for retaliatory trade measures to compel appreciation. On March 11, President Barack Obama urged the nation to move toward a more 'market-oriented exchange rate.' Economist Paul Krugman said March 12 that global growth would be about 1.5 percentage points higher if China stopped restraining the value of its currency and running trade surpluses. 'This is a sign that there will be no one-off revaluation in coming months,' said Lu Ting, an economist at Bank of America-Merrill Lynch in Hong Kong. 'China’s top policymakers do have their own currency reform plans but coercion from other countries will do disservice to this cause.'"
Is everyone's favorite Thanksgiving centerpiece really to blame for the post-dinner doldrums?
- Americans kill around 45 million turkeys every year in preparation for the Thanksgiving meal, only to blame our favorite centerpiece for the following food comas.
- Rumor has it our after-dinner sleepiness results from the tryptophan found in turkey.
- However, it is the meal's overall nutritional imbalance, not just the tryptophan, that make us want to leave the dishes for tomorrow. Or maybe the next day.
Pfizer's partnerships strengthen their ability to deliver vaccines in developing countries.
- Community healthcare workers face many challenges in their work, including often traveling far distances to see their clients
- Pfizer is helping to drive the UN's sustainable development goals through partnerships.
- Pfizer partnered with AMP and the World Health Organization to develop a training program for healthcare workers.
The famed author headed to the pond thanks to Indian philosophy.
- The famed author was heavily influenced by Indian literature, informing his decision to self-exile on Walden Pond.
- He was introduced to these texts by his good friend's father, William Emerson.
- Yoga philosophy was in America a century before any physical practices were introduced.
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