Word: bankings
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...appeared to take Netanyahu's side last weekend, pressing the Palestinians to drop the precondition for talking. But the Palestinians point out that they weren't the only ones raising the issue: the Obama Administration, too, had issued an unambiguous demand that Israel halt all construction in the West Bank and East Jerusalem in line with the 2002 road...
...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...
...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...
...Barack Obama began his effort by saying settlement freeze. On Monday, Secretary of State Hillary Clinton found herself struggling to persuade skeptical Arab foreign ministers to see the silver lining in Israel's "No, but ..." answer to the U.S. demand that Israel halt all construction in the occupied West Bank and East Jerusalem. At least Israeli Prime Minister Benjamin Netanyahu was offering to restrain settlement activity, Clinton said, but Arab leaders, whom Obama had hoped would make reciprocal gestures toward normalization of ties with Israel, were not buying. For Arab League secretary Amr Moussa, Clinton's message offered a grim...
...Asking the Arab states to accept Israel's offer to simply slow down construction in the West Bank and its refusal to stop building and demolishing Palestinian homes in East Jerusalem - after Obama publicly and repeatedly demanded it - has battered the Administration's credibility in Arab capitals. And Palestinian Authority President Mahmoud Abbas reiterated on Monday his refusal to heed Washington's call to begin negotiating with Netanyahu in the absence of a settlement freeze. Abbas has promised his public and his Fatah movement, which is deeply skeptical of the prospects for dealing with Israel's hawkish government, that...