SENATE COMMITTEE EXAMINES EXCHANGE RATE
Treasury Secretary John Snow appears before the Senate Banking, Housing and Urban Affairs Committee to discuss the international exchange rate during a hearing on October 30, 2003 on Capitol Hill in Washington. Of major concern to the Committee was how domestic jobs were threatened by possible Chinese and Japanese manipulation of the U.S. dollar. (UPI/Roger L. Wollenberg)
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WASHINGTON, Jan. 16 (UPI) -- Five months ago, when the subprime crisis began to bite, the Asian Development Bank was among the expert institutions that suggested that the U.S. financial troubles would not affect China. The fashionable word of the day was "decoupling."
WASHINGTON, Jan. 9 (UPI) -- Former French Prime Minister Edouard Balladur this week proposed in a long essay "a true union of the West" between Europe and North America, which received a warm response from France's new President Nicolas Sarkozy.
MOSCOW, Dec. 24 (UPI) -- Russia could become the world's fifth largest economy by 2020 if its gross domestic product rises between 6 percent and 7 percent annually, a minister said.
BAGHDAD, Dec. 15 (UPI) -- A weak U.S. dollar and increased stability in Iraq point to a rise in the value of the national currency as Iraqis return to their native dinar, a report says.
NEW YORK, Dec. 15 (UPI) -- The weak U.S. dollar has many Europeans looking at the United States as a cheap place to spend their holiday money and load up on material goods.
WASHINGTON, Nov. 7 (UPI) -- The United States, must set an example on matters such as capitalism, fair exchange and global warming, French President Nicolas Sarkozy said Wednesday.
TORONTO, Oct. 31 (UPI) -- Canadian retailer Indigo Books & Music Inc. said Wednesday it had cut all book prices 10 to 20 percent to offset Canada's soaring dollar.
WASHINGTON, Oct. 23 (UPI) -- The outgoing International Monetary Fund head says the U.S. dollar’s decline so far has been orderly but the greenback faces a risk of an abrupt fall.
WASHINGTON, Oct. 12 (UPI) -- So far, watching the presidential pre-debate debates, no one has suggested how he or she wants the world to look like 15 to 20 years on the high road to the future. No one seems to have noticed, let alone mentioned, a new global paradigm: the newfound importance of rivers of capital that have displaced the flow of goods for measuring national wealth. Also new actors on the global stage that defy accountability. There are some 3,000 hedge funds, sans code of conduct, with $1.7 trillion under management, which is expected to double in five years.
SYDNEY, Oct. 8 (UPI) -- An Australian business survey shows sales and company profits are booming but fears remain of an interest rate rise.
