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...mistake we often make in thinking about China is to ask, How does the West accommodate a rising China? This is sort of like asking, How do we fit a big and growing guy into the back of an already full car? It's a question to which any answer suggests expanding discomfort. And in the eyes of many in Beijing, the car isn't running so well anyway. Might it not be better, Chinese wonder, to redesign it? Some of the questions China has started asking about the world system are ones we should be asking too. This...
...Chinese Navy: How Big a Threat...
...question is whether anything other than a massive, one-off revaluation in the RMB versus the dollar - something that is not in the cards - will have any significant impact on employment in the U.S. or Europe. Economists differ around the edges of this debate, but most agree that a big employment impact is unlikely given a RMB rise of, say, 10% over the next year or two. "The thread between the two [revaluation and jobs] is very, very thin," says Derek Scissors, an economist at the Heritage Foundation in Washington. "No currency revaluation of any feasible size will create more...
...explosion at the Massey Energy company's Upper Big Branch mine was the deadliest U.S. mining disaster in 26 years. The U.S. is one of the safest places for the profession; last year the country recorded 34 fatalities, an all-time low, according to the U.S. Department of Labor. China, one of the world's deadliest places for mining, has seen improvements in the safety of its mines, albeit from the high numbers of accidents in past years. In 2009, 2,631 people died in Chinese mines, down from a peak of 6,995 in 2002. (See pictures...
Despite the U.S. industry's good record, last week's disaster in West Virginia served as a wake-up call that it's not just Chinese operations that may be putting the bottom line before the worker safety. The number of government citations and orders issued for the Upper Big Branch mine more than doubled last year to 515, according to the U.S. Mine Safety and Health Administration. But the mine continued to operate, raising questions about the quality of government supervision and Massey's commitment to safety. Congressman Nick J. Rahall, whose district includes the mine, has called...