No Appreciation for the Rising Yuan -- It's been a year since the yuan's peg to the dollar ended. So what's been achieved? First the good news. The yuan has reached 6.4696 to the dollar, up 5.5%. Factoring in higher inflation in China, the real impact on the competitiveness of Chinese exports, has been more marked. That has opened space for other Asian currencies to make up ground against the dollar. The Singapore dollar, Korean won, and Taiwanese dollar are all up significantly in the last year. Now the bad news...
Yeesh. Speaking of China...
U.S. GOA: 40 Percent of Defense Supply Chain Damaged by Chinese Parts -- The U.S. Government Accountability Office (GAO), the audit, evaluation, and investigative arm of the U.S. Congress has been busy investigating reports of fake and/or damaged parts in the U.S. supply chain. It has released its preliminary findings [press release] and they may come as a shock to some -- though perhaps not so much for others.
Carlsberg moves into Asia.
Asian Buys, Centralized Supply Chain Key To Carlsberg Growth -- Asia is the fastest-growing region for the Danish brewer, where it is looking to grow through acquisitions, buying out local partners in its existing breweries or increasing its stakes in local brewers. It is currently in talks to raise its stakes in three breweries in China and Vietnam, which are both key markets in the company's expansion strategy, said Buhl Rasmussen.
This was DEVASTATING news in our house last night (boyfriend = diehard Cards fan)...but interesting in terms of your career's opportunity cost.
Albert Pujols' Fractured Arm Could Cost Him $50 Million In Future Salary -- Prior to Sunday's 5-4 St. Louis Cardinals win versus the visiting Kansas City Royals, I had wondered how Albert Pujols' productivity in 2011 would impact his market value during the upcoming off-season. Even thinking that Albert's sub-standard (by his standards) 2011 campaign may actually help the Cardinals more readily afford him. Now that Albert is out four to six weeks with a small fracture in his left arm, the curiosity about what might happen to his future market value only intensifies.
- Sheena Moore