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...Friday, as President Obama crossed the Pacific to begin his first trip to Asia, the Census Bureau released its monthly trade tally. The headline was that the U.S. trade deficit grew to $36.5 billion in September, more than forecasters expected and the biggest such figure since January. But the really dramatic number was that 60.5% of the deficit, or $22.1 billion, was with just one country: China...
...wrote the Build America Bond program into February's $787 billion economic-stimulus bill, many predicted a flop. Nine months later, the municipal-bond program, which provides a federal subsidy to help states and other local governments raise funds, looks to be one of the economic recovery effort's biggest successes. Earlier this month, the volume of BABs, as they have come to be called, crossed the $50 billion mark...
...Christine] was kind of our captain for the meet,” said Harvard assistant coach Matt Davidson. “She set the tempo for the girls…The biggest part of our success was Christine’s Kaufman—her swimming and her leadership. She set the tempo in and out of the pool. She’s absolutely unbelievable...
...which Beijing considers Chinese territory that should be reunified by force if necessary. China maintains an estimated 1,300 ballistic missiles along the Taiwan Strait to be used against the island in event of war. While the U.S. does not have formal diplomatic relations with Taiwan, it remains its biggest ally and protector. Under the Taiwan Relations Act, U.S. law requires that it sell military hardware to provide for Taiwan's defense, which infuriates China. Last year Beijing cut off military-to-military interactions between the U.S. and China to protest an American arms deal with Taiwan. (See pictures...
...handful of wealthy cities on China's coast. Towns such as Nanjing, Kunming and Chongqing are experiencing price hikes as well. Though most observers believe China's real estate market is not in a bubble just yet, making sure it doesn't reach that point is one of the biggest challenges facing Beijing today. "Rapidly rising property prices now becomes a top issue for policy makers in China," economists at BofA Merrill Lynch Global Research proclaimed in a recent report. (See pictures of Barack Obama visiting Asia...