Word: bankes
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Dates: during 2000-2009
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...Does Beijing care? In its response to the financial crisis - the depth of which absolutely stunned Chinese policymakers - China desperately pushed every familiar button to keep its economy from succumbing the way the developed world's did. It has thrown buckets of practically free money at state-owned banks, which in turn loaned it out to mostly state-owned companies in a wide range of industries. Banks also loaned money to real estate developers, who have added inventory to what were already overbuilt residential and commercial markets in several major Chinese cities. And now the government has turned around...
...responsible for the murder of two Palestinians in 1997 and a pair of bombings that left a professor and a 15-year-old boy wounded, among other crimes. Teitel's Oct. 7 arrest was made public on Nov. 1; police say they found a weapons laboratory at his West Bank home and a weapons cache nearby. His attorney says the 37-year-old father of four is mentally unstable. (Read "Why Pro-Arab France Is Warming Up to Israel...
...Worked as a self-employed computer technician and website designer. Lived with his wife Rivka, whom he met and married in Israel, and four children in the West Bank settlement of Shvut Rachel until his arrest...
...just indiscriminate bank lending that has retarded moves toward rebalancing. Outright government subsidies to businesses have increased in the past 12 months. Everything from bicycle makers to textile producers to chemical companies have seen their export subsidies rise because their markets worldwide were shriveling, and a panicky Beijing was spooked by the prospect of massive unemployment if factories shut down. "By transferring wealth from households to boost the profitability of producers, China's ability to grow consumption in line with growth of the nation's GDP is severely hampered," says Michael Pettis, a finance professor at Peking University's Guanghua...
...After allowing it to rise against the dollar by about 15% earlier this decade, China has since the onset of the crisis kept the RMB's value tightly pegged at about 6.8 to $1. Economists differ on how greatly undervalued the RMB is. The International Monetary Fund and World Bank contend that it's about 15%-25% below where it would be if it were allowed to float freely. Virtually all agree that it needs to move higher, both for China's sake and the sake of its trading partners. An undervalued currency reduces real household income in China...