December 2011
2 posts
“50 million: The number of people worldwide who have a mobile phone but that do...”
– The mobile web in numbers | Royal Pingdom (via courtenaybird)
China created the subprime crisis
An interesting aspect of the subprime crisis is that its difficult to point a finger at one event, reason, person, institution or decision. A number of reasons have been cited for the cause of the crisis, however, China’s pegging of the foreign currency has rarely been mentioned as a major cause.
The dollar was pegged to the renmenbei at an artificially low level. This incentivized a surge...