Word: reservoir
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Dates: during 2000-2009
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...policies were also aimed at deriving maximum support from external demand. A closed capital account and an undervalued renminbi (RMB) were icing on the cake for China's powerful strain of export-led growth. Moreover, to the extent that its currency-management objectives required ongoing recycling of a massive reservoir of foreign-exchange reserves into U.S. dollar - based assets, such capital inflows helped keep longer-term U.S. interest rates at exceptionally low levels. In effect, China's implicit interest-rate subsidy ended up becoming an important prop to bubble-prone U.S. asset markets and, ultimately, for the asset-dependent American...
...acres of land and water covered by the spilled ash, all but eight acres are part of the plant and reservoir property managed by TVA. Three homes were structurally damaged. TVA is dredging the river to remove the ash as quickly as possible and will work with the community to develop a long-term plan for disposition of the remaining...
Take no comfort in that excess. Unlike crude, natural gas cannot be stored just anywhere we want; we also cannot transport it very easily. Gas is typically stored in underground reservoirs. The pressure of the gas and the type of reservoir can make injection and extraction cycles difficult and lengthy processes. Until traders see extra storage realized, the natural gas market will be priced in steep contango, meaning prices of natural gas for future delivery will hang far above the current price. The low prices now represent the abundance of unusable and potentially unstorable gas, a situation that will...
...capital in and out of the country. This is a step Beijing's economic policymakers remain fearful of taking, since they still feel the need to protect China's developing domestic financial sector from shifts in the global economy. China sees its controlled currency as a "dam surrounding a reservoir, and the government doesn't know what would happen if it blew up the dam," says David Li, an economist at Tsinghua University in Beijing. "Would water flood out because the level inside the dam is higher than outside or would the opposite happen? That's what they are afraid...
...many different views of why racial violence exploded this week. Some support the official explanation that forces at home and abroad plotting to split the western region of Xinjiang from China encouraged minority Uighurs to riot. Others say that discrimination of the Muslim group has created a deep reservoir of anger that can be ignited with little provocation. Among the competing views, two facts seem abundantly clear: animosity between Hans and Uighurs in Xinjiang's capital city is unlikely to fade, and the threat of further violence is never far away. (Read a brief history of the Uighurs...