"It's the global economy, stupid," was the recent title to a story written by CNN assistant managing editor, article, Mr. La Monica showed that China's Hang Seng index and our S&P 500 index moved virtually in tandem in 2010. Referring to China and U.S. he stated, "You need me, I need you." The concern is how China approaches the value of their currency.in November of last year. In his
The United States says that they believe China keeps the value of its currency, the yuan, artificially low. And a cheap Yuan makes Chinese goods more affordable in the U.S., while U.S. exported goods are priced artificially high, keeping them out of reach of the mainstream Chinese marketplace.
The evidence is seen in our trade deficit. China reported a $27.2 billion trade surplus in 2010 while the United States posted a $44 billion trade deficit. The United States is still the largest economy with an estimated $14.6 Trillion dollar GDP in 2010. In 2000, China was ranked 6th with a GDP of $1.2 trillion dollars, ahead of Italy, but less than France. Since, then China's GDP has increased five-fold to $5.7 trillion dollars, passing even Japan and ranking as the second largest world economy.
Tuesday, February 22, 2011
Monday, February 21, 2011
Austin recently ranked first among all U.S. cities and 26th among all cities in the world based on the strength of business performance during the 2009-2010 recovery period.
Some highlights from the Brookings Institution 52-page Global Metro Monitor report are below...
Sunday, February 20, 2011
I had the privilege to sit in on a luncheon presentation by Akil Oktem, Consul General of Turkey today and learned some very interesting facts about Turkey and that region.
|Turkey is the bridge between East and West.|
More significantly, is where Turkey is located. As the Turkey is sandwiched between Europe to the northwest, Russian and Asia to the northeast, the Middle East to the south and southeast, and Africa to its southwest. Honorable Mr. Oktem stated,
"Turkey is a stable island amidst a sea of instability."