Word: malaysian
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There's some useful stuff here. Who knew there was a Malaysian restaurant 1.64 miles away with prices lower than you would find at most places in Harvard Square...
...trade was being affected in the seizures - would intervene in the strait if the local governments didn't solve the problem themselves. A new spirit of cooperation took hold along the strait. "All of us shared the same goal and objective," says Zahari Jamian, a captain in the Royal Malaysian Navy, "to paint the picture to the world that the strait is not really a war-risk zone...
...swap agreements China has hashed out circumvent most of these problems. A Malaysian clothing store, for example, that buys shirts and dresses from China can now use its local currency, the ringgit, to pay for its purchases. Because it no longer has to pay a bank a fee to convert ringgit into dollars, transaction costs are reduced. Similarly, a Chinese company buying Malaysian palm oil can make its purchases in yuan. (Read about the economies of South Korea, Taiwan, Hong Kong and Singapore...
...There are significant drawbacks for companies taking this route, however. A Malaysian company accepting yuan as payment would have few reasons to hold the currency, which is not fully convertible. "Even if you could own the yuan through these swaps, what would you do with it?" asks Mark Matthews, a Hong Kong-based strategist for Fox-Pitt Kelton Securities. Yuan holders can invest their excess savings in Chinese securities, but only up to a point. The Chinese government said on Dec. 9 that it will triple the amount of domestic securities qualified foreign funds are allowed to purchase...
...such sentiment is likely to fall on deaf ears in host countries, where unskilled foreign laborers not long ago were welcomed as useful contributors to economic development. The Malaysian Trade Union Congress (MTUC) once campaigned for the protection of migrants' rights. But now they too are sounding alarm bells about the threat illegal workers pose to ordinary wage-earning Malaysians. "Many remain in the country," says Rajasegaran Gopal, the MTUC's secretary general. "We have a foreign worker time bomb ticking away...