Word: backed
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Dates: during 2010-2019
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...back of such tales, conventional economic thinking says, dangerous speculative bubbles are built. And these days not much - aside from the possibility of a double-dip recession in the U.S. - has more economists, international investors, hedge-fund managers and bankers tearing their hair out than the deceptively simple question, Is China's property market a bubble? (See pictures of Shanghai...
...year of unprecedented economic complexity. He certainly got that right. A real estate downturn, perhaps a severe one, will hit China sooner or later. The problem is that if it arrives sooner, the world's fastest-growing economy doesn't have a whole lot to fall back on. Its export markets are still weak and its capacity to increase infrastructure spending again, after the massive increases of the past two years, is limited. With the rest of the world still trying to regain its economic footing, the authorities in Beijing are hoping they can shrink a bubble without bursting...
...social insurance, including a pension, national health insurance and disability benefits. Westerwelle thinks that should change, and is also pushing for lower taxes and a new simplified tax system. The opposition Social Democrats branded him a "sociopolitical arsonist" while the Greens warned that the welfare state would be pared back to a "social ice age." Merkel was not amused, either. "I've made it clear that what Guido Westerwelle said is not my choice of words. That's not my style," she told the CDU party faithful. (Read: "Guido Westerwelle, Germany's Mittelman...
...month before. With the new government "arguing more than the old coalition government," says Manfred Güllner, head of the Forsa Polling Institute, "Angela Merkel has to be careful that she doesn't lose her voters and she has to tell her coalition partners to get back in line." (See Angela Merkel in TIME...
...government's bickering is set against the backdrop of the ongoing economic crisis, which remains the key issue for voters. Germany may be officially out of recession but Europe's biggest economy is struggling to get back on its feet. Unemployment is creeping up and public finances are deteriorating. Germany's budget deficit reached 3.3% of GDP in 2009 and is forecast to rise to more than 5% of GDP this year - far more than the 3% limit set by European Union rules. Add in worries that Berlin could end up bailing Greece out of its own financial predicament...