Australia's Booming Dollar Creates Economic Dangers

(Al Jazeera English: 0900 PT, May 10, 2011) Australia appears to have defied the global financial crisis, enjoying several consecutive years of growth. There is another side to this rosy picture though, as the country's strong currency is hurting a number of industries. Andrew Thomas reports.

 

 

 
 

Comments (0)

 
Digg it!Add to RedditAdd to Del.icio.usShare on Facebook
 
Start Your Year Off Right With Link TV

With all the challenges confronting the world as a new year begins, it is more important than ever to be engaged with and connected to every part of the globe. That’s why it is our New Year’s resolution at Link TV to bring you even more fresh voices, independent views, and inspirational stories from different countries and cultures.

We’re kicking off the New Year with the Link TV's groundbreaking documentary series Doc-Debut, showcasing a new international film every Sunday evening. Our first premiere is Niko von Glasow’s powerful film NoBody’s Perfect, a look at the physical and psychological barriers facing twelve people born disabled due to Thalidomide poisoning. The filmmaker, also affected by Thalidomide, brings these strangers together to confront their disabilities through a nude photo shoot.

Tune in next week for The Unwinking Gaze, a unique behind-the-scenes look at the daily life of the Dalai Lama. Filmmaker Josh Dugdale had unprecedented access to His Holiness for a three-year period, showing what this extraordinary figure is like in his private life and the grueling work that goes into taking on a world power on behalf of an entire people.

Favela RisingNext, travel halfway around the world to the slums of Rio de Janeiro in Favela Rising. Former drug trafficker Anderson Sá has sparked a social revolution through music, helping kids in one of the most dangerous places on the planet have a positive outlet and alternative to gang life. Filmmaker Jeff Zimbalist (The Two Escobars) provides a visually stunning and musically dynamic documentation of Anderson's life and impact in the favela.

While Anderson Sá was transforming his community through music in Brazil, José Antonio Abreu was doing the very same thing with his youth orchestra in Caracas, Venezuela. Starting January 12th, Link TV will be broadcasting his inspirational speech as part of our ongoing TED Talks series. We are proud to be a part of the TED Open TV Project, helping spread these important ideas from these innovative talks and charismatic speakers.

The powerful Dollar a Day series also continues in January with the premiere of The New Silver. This six-part international series documents what life is like for the billions of people living in poverty around the world. The New Silver chronicles the transitioning economy of Bolivia and how access to capital changes lives and nations.

Arab LaborOn a lighter note, 2011 continues on with the new season of Arab Labor. The hit Israeli sitcom, dubbed “The Seinfeld of the Middle East,” pokes fun at the cultural similarities and differences between Palestinians and Jews and looks at life in the holy land from a different angle.

Algeria: Quitting Terrorism, from the United Nations’ 21st Century series, is another documentary bringing a fresh perspective on an age-old issue. Much has gone into figuring out why people turn to terrorism, but this film takes a unique look at why an Algerian man has given up violence.

That, in a nutshell, is what Link TV is all about: challenging established assumptions about how the world works by exploring different viewpoints and perspectives. We hope you join us throughout 2011 for many more groundbreaking shows, insightful stories and brand-new programs to come.

 
 

Comments (0)

 
Digg it!Add to RedditAdd to Del.icio.usShare on Facebook
 
A Russia-China Challenge to the Dollar?

On the heels of a G-20 summit that saw U.S. President Obama play peacemaker in several multi-national disputes, Russian President Dmitri Medvedev reignited talk yesterday of replacing the dollar as the world's reserve currency. Medvedev's words echoed an argument initiated in March by a Chinese central bank official, and to varying degrees supported by world leaders from Brazilian President Luiz Inacio Lula da Silva to IMF managing director Dominique Strauss-Kahn.

 

Last fall, Global Pulse reported that China and Russia had agreed to construct a new oil pipeline connecting the two nations, and that the dollar would not be used in any financial transactions. At the time, we asked if Russia and China could be establishing a long-term alliance designed in part to isolate the influence of U.S. currency.

 
 

Comments (1)

 
Digg it!Add to RedditAdd to Del.icio.usShare on Facebook
 
The Fall of the Dollar?

In recent weeks, speculation is rife that the dollar could fall as the world's reserve currency. The storm began last week when Chinese central bank official Zhou Xiaochuan suggested that the dollar be replaced by International Monetary Fund units known as "special drawing rights" that are based on a basket of global currencies. The following day, U.S. Treasury Secretary Tim Geithner briefly alarmed traders with his comments in support of expanding IMF use of SDRs to combat recession.

 

No sooner had the markets calmed when a political fury began to whip among U.S. conservatives. Congresswoman Michelle Bachmann of Minnesota led the charge, introducing legislation to "prohibit a global currency" and touting her message on the airwaves. A Rasmussen poll found that 88% of Americans feel it is "important that the dollar remain America's currency."

 

But to the center and left, a less fearful analysis prevails. The Economist notes that SDRs have yet to catch on as a global means of exchange and represent in total a miniscule fraction of China's foreign exchange portfolio. And today, Paul Krugman dismisses China's consideration of a global currency as mere denial of how trapped it is by the staggering size of its U.S. Treasury holdings.

 

Should the U.S. be doing more to protect the dollar? Or could a new global currency help promote worldwide cooperation in economic recovery?

 
 

Comments (5)

 
Digg it!Add to RedditAdd to Del.icio.usShare on Facebook
 

 

Link TV Blog

Keep up to date with the latest programming news on Link TV


Mosaic Blog

Link TV's Mosaic producers give unique insight on major newsworthy stories of the Middle East

 

World Music Blog

Insight into Link's musical offerings, reports on concerts, and interviews with musicians


LinkAsia Blog

Get the latest analysis on news and key issues from around Asia


World Cinema Blog

A personal insight to CINEMONDO and other Link TV feature film acquisitions


Global Spirit

Updates about Global Spirit - an unprecedented inquiry into the universe of human consciousness