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...that political will seems to be faltering. A legally binding pact will be impossible to achieve at the climate-change summit in Copenhagen, said U.S. President Barack Obama and other world leaders at the just-concluded APEC meeting in Singapore. Back in the U.S. - cumulatively still the world's biggest polluter - a bill to cut, by 2020, emissions to 20% below 2005 levels faces a bruising and uncertain journey through the Senate. Washington and Copenhagen: whatever happens in the rain forests, it is in these two distinctly nontropical cities that the fate of our remaining rain forests, and our warming...
...Reagan and Diplomacy In "Why The Wall Came Down," Romesh Ratnesar asserts that Reagan's biggest weapon during the Cold War was to use diplomacy and that "Obama's challenge now is to do the same" [Nov. 9]. Unfortunately, unlike communist states, Iran follows the theological-political dogma of radical Islam, which aspires to have all others submit to that ideology. Radical Islam sanctions death for the greater cause. Conversely, communism is based on a secular ideology, and Cold War leaders didn't follow a doctrine that supports dying for the cause. Diplomacy in our current situation...
...perhaps the biggest reason for optimism is Xi'an residents like Lu Bo. The 32-year-old says the salary he earns as a salesman in the air-freight department at China Eastern Airlines was reduced by a third last year when his company was hit hard by the financial crisis, but that hasn't stopped him from spending. So confident is he about the future, he recently went out shopping for a new refrigerator. "Judging from my job, my life, I think everything will become better and better," Lu says. And maybe for the entire world economy as well...
...other words, he's wrong a lot. But so are conventional economic forecasters, especially at the market turning points that can have the biggest impact on investors' portfolios. This is because, Prechter argues, standard economic models of financial markets depict prices as reflections - imperfect, perhaps, but still reflections - of true value. He believes instead that "waves of social mood are the driving factor" of both market moves and, to a certain extent, economic reality. He calls this approach socionomics, and he's doing what he can - his Georgia operation now includes a socionomics institute - to push it onto academic curriculums...
...Copenhagen, confirming mounting doubts that the conference would yield a landmark pact. Instead, a coalition including U.S. President Barack Obama and Chinese President Hu Jintao announced at the Asia-Pacific Economic Cooperation summit that it will aim to build political consensus, paving the way for concrete steps. The biggest challenge will be aligning the interests of developing and industrialized nations: the U.S., among others, argues that because emerging powers like China and India are among the largest emitters, any deal that excludes them--as did the Kyoto Protocol, which expires in 2012--will be inadequate...