Word: donging
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...their responsibility to try to best curb inflation." So far, Hanoi has moved to cool the economy by requiring banks to increase their reserves; the central bank has also raised interest rates to 12%. But inflation is being made worse by Vietnam's weakening national currency. The Vietnamese dong has fallen roughly 1.5% against the dollar in the past six months. But the recent dismal economic news is threatening to weaken it further. This past week the dong jumped from 16,120 to the dollar to 18,500 on the black market as traders rushed to put their dong into...
...waited new rules to allow limited sales of previously non-tradable equities held by big investors in listed firms. But it was the transaction-tax cut that got the market climbing again. "The tax drop is an important signal of the government's resolve to salvage the market," says Dong Tao, chief regional economist at Credit Suisse in Hong Kong. "The financial benefit investors are getting from the new policy is trivial, but the reassurance from the government...
...thinks the market is going to go down very quickly. "I will sell all my stocks this afternoon, even though I will still lose money." Like Fang, millions of Chinese small investors have put their life savings into the market that has risen 600% over the last two years. Dong Tao says: "Many Chinese investors used to think China's stock market is like an ATM machine. You type your password in and money comes out." Not anymore. The decline of China's stock market sped up this January, and it fell straight through the past three month...
...Still, despite the recent drop, analysts are optimistic. "The government does not want to see the worsening market start to bring about negative impact on China's economy and social stability," Dong Tao says. He believes the government wants to see the market rise steadily, but slowly, for the next few months. "Last May's tax increase unveiled the beginning of decline. Therefore the tax cut yesterday might as well be an indicator for the start of rise. If the market doesn't respond to the tax drop, more policies are bound to be issued," he says...
...from the University. Sociology Professor Jason A. Kaufman ’93 and English Department Chair James T. Engell ’73 have agreed to be faculty sponsors for the Voice, which will be printed at The Crimson, and about 40 students have joined its staff. May Lan Dong ’11, the organization’s director of finance and strategic relations, said she anticipates further success for the project in months to come. Campus organizations such as Harvard-Radcliffe Television and the Harvard African Students Association have expressed interest in collaborating with the Voice, according...