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Tuesday, November 30, 2004

Economist - "lattenomics" scale

( Via Jeff Nolan ) Economist magazine has coined the term -"lattenomics",which shows whether currencies are at their "correct" level against the dollar by comparing the cost of a Starbucks tall latte around the world. The French capital now ranks as one of the most expensive cities in the world to buy a Starbucks coffee, with Bangkok qualifying as the cheapest, as the Thai currency is 31 per cent undervalued against the dollar . Starbucks,the café chain, whose green-and-white mermaid trademark is recognised in over 32 countries, has pursued a relentless overseas expansion policy recently after its near saturation of the US market began to undermine its ability to grind out new profits. This article talks about Starbucks plan to expand in Ireland. Last month Paris became the latest city to feature on what the Economist dubs its "lattenomics" scale( Very much like the Big Mac Index), which shows whether currencies are at their "correct" level against the dollar by comparing the cost of a Starbucks tall latte around the world. The French capital now ranks as one of the most expensive cities in the world to buy a Starbucks coffee, with Bangkok qualifying as the cheapest, as the Thai currency is 31 per cent undervalued against the dollar.

However, such rapid international recognition has come at a price, with anti-globalisation and anti-war protesters regularly targeting the company as a symbol of US cultural imperialism.
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