Demand for dollars is huge in Venezuela, not only because of import needs, but also because years of socialist economic policies and political instability have spurred capital flight.

WSJ: Venezuelan Cabinet Tweak Seen Aiding Economy in Short Term

Dubai's attractions are many: In addition to glitzy shopping malls, it boasts so-called "free zones, " which allow for 100% foreign ownership, 100% repatriation of capital and profits, exemption from corporate tax and no import duties.

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At the same time there will be a rise in prices of capital- and skill-intensive goods and services which China needs to import.

ECONOMIST: The halo effect | The

EarthFirst, John Stanton's firm, claims to be at "the forefront of alternative energy sources, " according to its Web site, but still gets most of its revenue from moneylosing waste-disposal and biodiesel-import businesses, and recently filed to allow Laurus Capital to sell 76 million shares, whose proceeds would be used to retire convertible debt held by Laurus.

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