The first paperclip was invented in 1867. Many designs came and went, and it was the simplest design that eventually won the race.

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The Burmese seem to be doing pretty fine without them. The banks that do exist only involve themselves in domestic cash money transfers. Some estimates even say that the economy grew 15% in 2009. Burma’s currency has also been rising—and the world is queuing up for a share of its immense wealth in natural resources.

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The weak yuan is not only adding to America’s trade imbalance, it is also denting India’s export potential. But China is not about to blink first.

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