The Chosun Ilbo (June 21)
Win or lose, North Korea will gain at least $10 million from FIFA for its World Cup appearance. If the North advances to the next round, the figure will rise. This money is significant to the North. $10 million is equivalent to three-months of wages for the 43,000 North Koreans who work in the Kaesong Industrial Complex.
Tags: FIFA, North Korea, Soccer, World Cup
The Wall Street Journal (June 20)
China will move toward a more flexible exchange rate, dropping the yuan’s dollar peg. This announcement comes at a good time, ahead of the G-20 meeting. This means the exchange rate won’t overcloud the major issue: “the failures of U.S. and European economic policies.” The WSJ points out the revalued yuan will not be the silver bullet that solves these problems.
China will move toward a more flexible exchange rate, dropping the yuan’s dollar peg. This announcement comes at a good time. Ahead of the G-20 meeting, this means the exchange rate won’t overcloud the major issue: “the failures of U.S. and European economic policies.” The WSJ points out the revalued yuan will not be the silver bullet that solves these problems.
The Economist (June 17)
Warren Buffet and Bill Gates are calling on the rich to give it away. They are asking billionaires to make a public giving pledge to donate at least half of their fortunes to charities and other good causes. Those who make the giving pledge will be invited to an annual summit for great givers. Buffet has himself pledged to give 99% of his wealth away, most of it to the Bill and Melinda Gates Foundation.
Tags: Bill Gates, Billionaire, Charity, Warren Buffet
