Word: america
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Dates: during 1990-1999
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Look at the facts. Upon graduation, over two-thirds of seniors have participated in public service. PBHA draws 1,700 students annually to serve over 12,000 community members. Harvard does better than the rest of America: Of the 93 million volunteers nationwide, most do what pastor Eugene F. Rivers III scorns as "recreational community service"--baking cookies for girl scouts or baby-sitting for a neighbor. Only eight percent work in "human services" --in soup kitchens, shelters, camps and inner-city schools. Virtually all Harvard students fall into this latter category of real community service. Harvard students certainly care...
Other community service programs are no different: City Step, HAND, America Reads and Peace Games all cater to children under high-school age. Nor is this focus on children confined to Harvard alone: Dwight Hall at Yale and the Swearer Center at Brown show a similar bias. Almost every web page, every pamphlet on community service at Harvard and beyond shows counselors surrounded by mostly minority children hugging, laughing and frolicking...
Although recession looms large in Latin America, a slow and painful bottoming out of the crisis is occurring in East Asia. But the return to growth will be very gradual, barring any other unforeseen disruption. In this respect, the ability of China to manage the stability-growth-reform trilemma in an increasingly difficult environment is an ominous question mark. In the same vein, the issue of when Japan will start to become part of the solution to global economic woes instead of being part of the problem remains open...
...couldn't see the bottom." But the ho-hum reaction of world markets to Brazil's currency collapse shows, says Courtis, "that the emerging-markets crisis at least in this virulent first phase is over." That means the story of 1999 will be written by the core economies--North America, Japan and Europe--and these should keep global growth on course for the rest of the year...
...most worrisome problem is the trade deficit, now running in excess of $150 billion annually. The humming U.S. economy is sucking in imports, while struggling economies in Asia and Latin America have cut their purchases of American goods and services. The result is a current account deficit--the measure of net dollars owed to other countries--of some $226 billion in 1998. Courtis says if the U.S. runs a current account deficit of 2.5% of GDP--lower than his 1999 estimate--for the next four years, "the U.S. net external debt in 2003 will be over $2 trillion, which...