China Adopts Opaque Currency Policy
纽约时报：中国采取不透明的货币政策
China has abandoned one of the world’s clearest currency policies, a tightly managed peg of the yuan to the dollar that had endured since 1997. China has chosen instead to adopt one of the world’s most opaque currency policies, with a secret mechanism to reset the yuan’s value each night.
中国放弃了自1997年来有管制的紧盯美元的世界上最清晰的货币政策，而选择一个世界上最不透明货币政策，该政策通过一秘密机制每晚重设人民币的价值。
The only limit that the central bank put on its moves was a promise yesterday that the center of each day’s trading range would not move more than 0.3 percent in either direction from the center of the previous day’s range. But with 20 or so trading days in a month, that means China could in theory push its currency up by 6 percent a month – or push it down by the same amount.
中央银行在昨天的举措中设置的唯一限制是承诺每日交易区间的中点不会比前一日的中点上下波动超过0.3个百分点。但是在每月大约20个这样的交易日中，这就意味着中国可以在理论上每个月将人民币升值6个百分点——或者贬值6个百分点。
But the officials also acknowledged that the secrecy of this approach carried a serious risk: it leaves China vulnerable to accusations from the United States and other countries that it is manipulating its currency so as to gain an advantage in trade.
但是官员承认这一举措的秘密性带来了严重的风险：它使得中国更易受到来自美国和其他国家关于中国操纵汇率在贸易中获利的控诉。

China ends renminbi’s decade-old peg to dollar
英国金融时报：中国结束了人民币10年以来对美元的盯住
The decision is a victory for the administration of President George W. Bush, which had urged Beijing to revalue but also fended off congressional demands for trade sanctions if China refused to move.
此决定是布什总统当局的胜利，他们一直催促北京升值人民币并以贸易诉讼作为砝码。
The International Monetary Fund called for maximum currency flexibility under the new system, saying it would allow Beijing to run a more independent economic policy.
国际货币基金组织呼吁在新体制下的最大化货币浮动，表示将允许北京实行更加独立的经济政策。
The Group of Seven leading industrial nations lauded China’s decision to revalue its currency, saying it would help global economic growth.
七国组织对中国升值人民币之举表示赞赏，表示这将推动全球经济增长。
With China’s trade surplus rising sharply and its foreign exchange reserves reaching a record $711bn last month, the bank’s ambition of equilibrium in the balance of payments also suggested Thursday’s small revaluation would not be the last. The bank said market developments would influence its decisions to make more adjustments to the renminbi’s value.
随着中国贸易盈余的高速增长和外汇储备在上个月达到创纪录的7110亿美元，央行在国际收支平衡上的野心还预示着星期四的小幅升值仍将继续。央行表示，市场形势的发展将会影响其决策，对人民币做出更多调整。
Analysts said the revaluation, although small, and the introduction of more currency flexibility, would help boost consumption in China and take the steam out of rapidly growing exports, now rising by 30 per cent a year.
分析家认为这次升值，尽管幅度较小，以及更具弹性的货币体系的引入，将推动中国消费的增长并放缓以每年30%的速度高速增长的出口。

China’s ‘people’s money’ gains capitalist status
路透社：中国“人民币”日增资本内涵
China’s yuan, once the scrip of a communist state that scorned the very concept of money, has tracked the country’s meteoric economic rise to become one of the most closely watched currencies in global capital markets.
中国的人民币，曾经是一个蔑视金钱概念的共产主义国家的货币凭证，现在却跟随中国疾速而恢宏的经济崛起而变为最受全球资本市场关注的通货之一。

China takes step toward world rebalance
路透社：中国向世界金融再平衡迈进
"The move is not sufficient to make a meaningful dent to global imbalances, but it is significant because it signals change in the currency regimes in China and elsewhere in Asia," said Nouriel Roubini, chairman of research firm RGE Monitor and a former U.S. Treasury official.
“这一步并不足够给全球不平衡留下意味深长的印记，但是，它却由于发出了中国及亚洲其他地区货币体制改革的信号而意义重大。”RGE Monitor研究所主席、前美国财政部官员Nouriel Roubini表示。
Shortly after China’s move, Malaysia also said it would drop a seven-year fixed exchange rate peg to the dollar. Speculation that South Korea, Indonesia and others allow their currencies to rise will help bring the dollar lower against Asia currencies in general, economists say.
在中国行动后不久，马来西亚也表示将放弃7年来的盯住美元的固定汇率。经济学家表示韩国、印尼及其他国家允许货币升值的考虑将帮助美元在整体对亚洲货币贬值。

China lets the yuan rise
英国经济学人：中国升值人民币
Beijing finally bites the bullet and scraps peg
英国金融时报：北京放弃盯住

"Come over here, young man, since you don’t have stuff to do."
It has been three weeks since my first visit to EO. Yes, the guys there are all kind and nice enough. They are some smart and cute and sweet people, who strive to produce the most elegant newspaper in China. And some of them become my friends which make me feel happy and fulfilling. But till now, I don’t dare to say it is some sort of internship or summer job. No payment. No schedule. No assignment. No identity. No requirement. I mean I am by no means a productive element in that system. I think I can do some favour to those guys and they might be kind enough to accept me. But unfortunately, there was nothing but some grateful translation, which was brought to me by Yan Ting, the nicest lady in that big office.

"Just look around and get used to things. And you may have to fit in for another week."
3 weeks passed away silently. They still told me to read their newspapers. Is it the thing I have to do in that building which takes me 1 hour and 8 yuan to get to? Or is it all my value – I mean the whole thing I have acquired in my 20 years of life including some advanced education?

Sounds like I am the nothing-to-do guy who have to be stuck with it. I have my own issues like English and CFA preparation. At least in such a humid day, stay in bed watchin’ some soaps would be such a fun.

Relax, guys. It is not about battery and enviroment things.
In this summer holidays, except the overheated weather, I find some more pleasant discovery still. All the students got something to do in this vacation. They stay at school and do some solid stuff. Some travel, some do summer jobs and some take a recharge.
Recharge might be the best euphemism for "learning". The term is exceptionally popular in last a few years. Low powered need recharging and so out-of-date need refreshing.
However, these burning day wouldn’t be the suitable climate. With a thick book in hand, Milido has been working on the HTML guidebook for two days. The book, which is the recommodation of mine, is one the most authoriative series of web authoring books. But it might focus on too much detail, so that the length is not so advisable. Milido is some hardworker. He makes great use of his time to take the knowledge in.
GRE is another theme. The New Oriental School recently announced to welcome its 1.5 millionth student. And as I know, the GRE courses are still attractive to all those looking for way abroad. Rucool, another guy around me, changed his QQ-nickname to Striving for GRE and paid less time online.
No longer is there a playground, since we are grown-ups today and in the days after. Though it’s never too old to learn, but it’d be sad to learn at that age.

The famous software download site Download.com got rebuilt these days. With clean and colorful new face, the huge web dressed itself with web standard codes.

It’s five or six years ago when I first heard of such a little figure called Harry Potter the Magician. With black-bordered glasses and pale face, the little boy conquered almost all the girls and some of the boys. More amazingly, young teachers started to talk about that tiny pupil in some magic school.
One year later, there was the movie. And then the second Harry Potter storybook. After that, the little hero visits the planet every year to give his charming strike to the bestseller market and to the thirsty readers.
As indicated by some data, the first five books sells 270m totally, which has occupied the third chair of the book sales ever. The first chair sits the Bible and the second the Selection of Chairman Mao. Jesus Christ, could you imagine such a world with such a incredible boy?
July 16, though with some email mistake, the sixth installment came up on the shelves. Only 5 hours later since published firstly, reader started to post book review online. In no more than one day, Harry Potter became the most heated keyword on the major search engines and the astonishing number of sales reached 6.9m, more than 250,000 sales an hour. Two days later, the English version boarded on China, as reported, Chinese kids showed equally great ardor to this British magic apprentice. By 6 am queues were forming in major cities of China, waiting to grab copies. And Chinese version is set to be published on Oct 15.
ZDNet, a technews providers, asked on July 18, "guess how many Skype users have ‘Harry Potter,’ ‘Voldemort’ names". The answer wasn’t such a surprise: 45 million users and counting.

Manhattan Project veteran Herb Lehr has no regrets:
"In a lot of respects I felt as if I had done something worthwhile. I am in no way ashamed of what I had done in any way, shape, matter or form. I did what I was told to do. I did it to the best of my ability."

美联社2005年7月15日报道，人类首次核试验60周年纪念，曼哈顿计划科学家Herb Lehr受邀重返当年的核试验场，并接受采访。采访中他表示自己并不后悔。

英国剧作家迈克·弗莱恩在解封的档案中奋战数年，写成震惊艺术界、科学界的剧目《哥本哈根》，却讲述了一个相反的关于科学家的故事。

今天，一个比我小几岁的朋友拿到了大学的录取通知书，写信祝贺，并有一点感触：

某某，

你好！

首先恭喜你如愿进入大学继续深造。如我们所知，XX大学是一所在历史上和在今天都值得尊敬的大学，能够浸淫其中是人生之幸事。我想此刻你和你的亲友也都沉浸在欢乐和幸福之中，因为长达两年——甚至在此之前更长的时间里——你的不懈努力终于得到了完满的回报。

虽然我对你的专业并不了解，但是我和你一样对它充满了期待。我知道你可能对经济学和管理学更感兴趣，但是以我的观察，从宏观的角度和个人的角度，理工类的专业会使你的大学更加贴近技术进步的脉搏。在学习中，你得以窥见自然的奥秘，创造新的奇迹。经济学和管理学所研究的全部素材都来自于工程师和其他劳动者所创造的物质财富，后者更加伟大和令人激动。
仅仅从个人发展的角度而言，理工科专业出国深造更容易，在大多数情况下，这一点都成立。

大学是一件很难说清楚的事情。学术、实践、生活、感情、未来等等问题交织在一起，你会因此而困扰、迷惑、不安、惶恐，也会因此而发现自己的价值和潜力。我一直不愿意把自己的想法强加于人。在走进大学的一刻，没有人给我讲大学之路，独自摸索并寻求即时的帮助是件很有成就感的事情，我也希望你也和我一样，探索属于你的大学，我愿意随时为你提供微薄的帮助。
有几句话，可能是公理一样需要每个人遵守的：

    * 绝不拒绝学习；
    * 从善如流，事无巨细；
    * 学会沟通、表达和各种社会礼仪；
    * 不高估自己的价值，也不要低估，但是大学生往往高估；
    * 负责任，从个人对社会贡献的角度想问题。

还有一些，但是没办法都想到了，我想你应该有自己的判断。在具体的知识和技能上，我只能说数学和语言是最重要的两种技能。专业知识更不相同，但是优秀的大学生一定是一个成绩很好的学生，尽管反过来不一定对。

未来的四年，生活将发生巨大的变化，做好准备！祝

好运！

署名
日期

希望大家不要笑话！

参加一个MBA的交流活动。两个美国人坐在台上，到了提问时间就被一堆晃来晃去的手包围了。主持人说时间有限，可是这句话是用英语说的，很多人都不理解。所以到最后的时候，只剩下一个提问的机会，被一个黑黑的男生得到了。

他问：如果你们接手微软公司的话，……

这个问题把美国人难住了，他们自己都承认这是个tough的问题。前面的时间都被浪费在美国的风土民情上。

这种“如果”的句式尤其适合用于提问，让回答者参与到一个新的情景中。

和经济观察报的李翔在MSN上遇见。

聊音乐和书。
他显得比我深沉和有理想。
他是因为办公室门口贴着的一句海明威的话加入的，我却可怜的不知道那句话。
他出于职业习惯的提问啊，好奇心很重。
我却出于本能的不回答啊，绕来绕去。

他的语气与他的年龄极不相符又极端相符。

他接连说：呵呵。
我说：你一呵呵，就成熟了。

"As Brits, we’ll carry on — it doesn’t scare us at all" said tour guide Michael Cahill, 37. "Look, loads of people are walking down the streets. It’s Great Britain — not called ‘Great’ for nothing."

下午五点钟，整个经济观察报社在漫不经心的等待一校稿出来的时候，Yahoo的头条悄悄的变成了美联社的Reluctant Londoners Return to Underground。这个标题生动的传达了伦敦以及世界的心态。恐怖主义的潜伏期可以是任意的时间长度。

报道中的一个叫做迈克尔·卡西尔的导游说：作为不列颠人，我们会继续前行——我们一点都不害怕。看，人群依然走过街头。这就是大不列颠——不是毫无原因的称“大”的。

我们都是因为伤者的勇气而产生同情的。