Word: aids
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...actively undermined every effort to put it under civilian control; expect more of the same. There are not many carrots the U.S. can dangle before Kayani to get him to change old habits. But the Biden-Lugar bill does provide some leverage: it requires $1 billion in military aid to be conditional on more effort by the Pakistani military to fight al-Qaeda and the Taliban, and become more accountable and transparent. The U.S. can nudge Kayani along, says Stephen Cohen, another Brookings expert on South Asia, by providing him only with equipment useful for low-intensity conflict rather than...
Should that happen--and Pakistan's democrats continue their fractious, venal ways, while its soldiers pocket aid and dream of fighting India--the U.S. would be back where it started. It would be limited, once again, to lobbing missiles at terrorist camps in Pakistan, inevitably killing civilians in the process, while uniting all Pakistanis in hatred of the U.S. for sullying their nation's sovereignty...
After the emerging-market currency collapses of the late 1990s, in which IMF aid wasn't much help, the lesson that emerging economies such as China and India took was that they needed to build up gigantic reserves of U.S. dollars to protect their currencies. To build those reserves, they ran big trade surpluses, which were in turn enabled mainly by record trade deficits in the U.S., which were in turn enabled by massive borrowing from around the world. It was an extremely unbalanced financial ballet, and it has now come crashing to the ground...
Still, things are not entirely gloomy. FORTUNE just released its annual list of best companies to work for: No. 1 is NetApp, which gives workers five paid days of volunteer work, adoption aid, autism coverage--and has gained market share, avoided layoffs and banked $2 billion in cash for these rainy days. Wegmans supermarkets (No. 5) offer workers free yoga classes; biotech leader Genentech (No. 7) features paid sabbaticals, on-site child care and a fitness center; its revenues jumped 25% last quarter. Hewlett suggests even struggling companies that have moved to a four-day workweek rather than fire people...
...Congressional staffers who wrote the legislation reject the criticism, arguing that such projects, and the tax cuts and direct state aid that form the bulk of the bill, are necessary to win votes. "If you're the White House, you have two concerns, just like we do," says the Democratic staffer involved in writing the bill. "I want something that's going to fix the economy and I want something that my chairmen say can pass...