EoW September 2007

45 / 128

EuroWire – September 2007 43
The European surplus was smaller, at $117 billion. But China’s
exports to Europe were rising at a rate of more than 32%, well
above the 18% growth rate in imports to China from Europe.
The Chinese surplus with the US is now 62% higher than it was
only two years ago, but the surplus with Europe is up 136%.
One explanation is that the US dollar lost more than 7% of its
value against the Chinese yuan over that period, during which
the euro gained against the yuan. As China allowed its currency
to appreciate gradually against the dollar, traders sent the euro
up against the dollar at a faster rate.
China’s trade deficit with the rest of the world, exclusive of
Europe and the US, is now at $54 billion. It has been shrinking
after hitting a peak of $86 billion early last year.
An opening – and a drama –
at the International Monetary Fund
Citing family obligations, Rodrigo de Rato, the managing
director of the International Monetary Fund, is giving up
his post at the Washington-based IMF two years early.
Mr de Rato, a former Spanish minister of the economy, said he
will remain as head of the fund only through the upcoming
World Bank-IMF annual meetings at the end of the year. As
leader of the agency since 2004 he helped oversee more than
$50 billion of debt reduction for poor nations. By tradition,
European Union finance officials select the head of the
IMF, while the US names the president of the World Bank.
But that balance may be about to be disturbed. As Krissah
Williams of the Washington Post (28th June) noted: “Because
European officials took the lead in ousting former World Bank
President Paul Wolfowitz this spring, questions remain regarding
the role the United States will play in choosing a successor to
Mr de Rato.”
The major question is, of course, whether lingering resentment
over the Wolfowitz episode will move US President Bush to
challenge Europe’s choice for the IMF. Mr Bush fought hard to
keep Mr Wolfowitz, his appointee, at the World Bank. When it
became clear that this was not to be, there was a groundswell
of support for the interim appointment of Britain’s departing
prime minister Tony Blair. Mr Blair, a staunch Bush ally at
considerable cost to his own political legacy, appeared to have
been the ideal choice for eleventh president of the World Bank,
and his selection a graceful and generous gesture on the part of
Mr Bush. But the American president did not yield ‘the US seat.’
Mr Bush named former US trade envoy Robert B Zoellick to the
prestigious and influential post.
Manufacturing
An expanding US manufacturing sector
expects more of the same
The Institute for Supply Management (Tempe, Arizona) reported
on 2nd July that manufacturing in the US unexpectedly grew in
June at the fastest pace in 14 months. The ISM factory index,
which rose to 56 from 55 for May, is a widely watched indicator
Conoptica is launching several new
Production & Quality Control Systems
Hallsetveien 3, NO-7540 KLAEBU Norway
Tel: +47 7283 0150 Fax: +47 7283 1435
Email:
Website:
Fast, accurate and low cost optical
measurement of Round/Shaped Die
and/or Wire diameter to
High end 3D full profile optical
measurement of any geometrical object
(Drawing/Shaped/Enamelling Die/wire/
rod/pin/needle/tube). Range 0,010 mm
– 400.00 mm.
Conoptica Shaped Die, Wire and Rod Systems
can in less than one minute, measure the 3D &
2D geometries of shaped dies and wires with
sub-micron accuracy.
Avoid wire breaks, increase production speed and
enhance your quality by performing Statistical
Process Control on objective measurement data,
thus ensuring that only the best dies are used.
Compare product and tool dimensions accurately
and enhance both the quality and the efficiency
of your production line.
Improve communication between tool maker
and wire producer through objective comparison
between tool and product.
Accumulate tool making skills while minimizing
human measurement errors.
The Systems are available in both automated
and manual configurations.
➲
➲
Conoptica Shaped Die,
Wire and Rod Systems