I had listened podcast:"Is China exporting its unemployment?"

WASHINGTON (AFP) – The US Treasury Saturday delayed a currency report, due later this month, that could accuse China of currency manipulation.Treasury Secretary Timothy Geithner announced the delay in a statement, saying there were better venues to advance US interests"There are a series of very important high-level meetings over the next three months that will be critical to bringing about policies that will help create a stronger, more sustainable, and more balanced global economy," he said.The United States has long-accused Beijing of manipulating the yuan's rate against the dollar, to boost Chinese exports.Some experts believe the Chinese currency is undervalued against the dollar by up to 40 percent. The United States and China's other trading partners claim that it gives the Asian giant an unfair trade advantage by making Chinese exports cheaper.Irate US lawmakers have demanded the Treasury label China a "currency manipulator."But Democratic Congressman Sandy Levin said the delay will give the administration time "to see if, in the next few months, the international community will address the causes of major global imbalances, including China's substantial undervaluing of its currency, which hurts American jobs and businesses."If the multilateral effort does not result in China's making significant changes, the administration and Congress will have no choice but to take appropriate action," he said.Speculation had been swirling that Treasury would delay the report to avoid embarrassing President Hu Jintao ahead of his visit to Washington later this month.

Do Banks do God's work?

The banks would say they perform an important social functions: they lend money and help to create wealth.The Boss of the Goldman Sachs went further in this.He said that banks were doing the God's work.He also said sorry for Goldman's role in the financial crisis.Sociologist Niggel Dodd said that bank began to invest money to gambling risks and this risks had no relations with real sector of economy.The higher the risk the higher the return but nowadays banks discover a lot of ways of diversity of risks they began to take too much risks without loosing out and they began to see risk not as a sign of effective activity but as a mone making opportunity.Risk became something what can be sold and bought.Banks began to pump economy with easy money paying not enough attention to real sector of economy.

self-assesment

It was very hard for me to understand exactly what presenter and Mr.Bolton speak,but I caught the main idea of the dialogue and I hope this task will be easier for me later.

Anthony Bolton Goes to China

In this reportage Anthony Bolton,one of the most legendary British investors, tells why he decided to move to China.He says that there are opportunities in China and he has been investing there already.He decided to run a fund specialized in this area before he completely start working entirely.He chosed China because he thinks that changes that take place in China will soon make China's stock market the second biggest market in the world.He also consideres that we'll soon have new economic world where power will ship away from the west to the asia.He also noticed that rating of management in China is very high and China managers are not worse than British ones and he can trust them.Also one of the attractions is that a lot of new local firms start working in China in service and manufacturing but advantage of Bolton is that he has more experience in these spheres.