Word: cautiously
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...faced by a yawning chasm between urban and rural incomes and rising unrest in the countryside, the Chinese leadership has taken a cautious middle road, stopping short of allowing outright sale and purchase of rural land and instead approving the trading of the peasants' leases and extending terms beyond 30 years. That amounts to the right to sell in all but name and potentially frees up hundreds of millions of rural Chinese - until now second-class citizens in their own country - to head for the big city. China's urban dwellers may well wonder how they will cope as hordes...
Meanwhile, with every court victory comes an electoral backlash. When a divided Connecticut Supreme Court ruled last week that gays have the right to marry, it took a far more cautious approach than California's Chief Justice Ronald George did in May. George issued a thundering declaration of gay rights, ruling that any law that discriminates on the basis of sexual orientation will from now on be met with the same strict scrutiny typically reserved for laws involving race or religion. By contrast, Connecticut's Justice Richard Palmer writes that "our conventional understanding of marriage must yield to a more...
...years. Analysts point out, however, that the credit squeeze compounds a growing challenge to Dubai's revenue streams. The most obvious is the halving of the price of oil from $147 per bbl. to $70 per bbl. since July, sending Middle East stocks tumbling and rendering regional investors increasingly cautious. Likewise, a global recession is likely to tighten the belts of the international investors and holiday makers that Dubai relies on for its real estate and tourism developments. Even before the global crunch, banks in the United Arab Emirates (UAE) were being hit this year by an outrunning stampede...
...Macquarie's investments are much broader than infrastructure, and new CEO Nicholas Moore argues that with little exposure to Wall Street's problems and $14 billion in cash, the bank can easily refinance debts. The recent credit crunch, however, has made the market cautious. On Oct. 14 Macquarie Group's shares were trading at around $24 ($A35), two-thirds off their peak of $85 in May 2007. And Babcock & Brown had tumbled from around...
...Bair is worried about all the new responsibilities her agency is taking on. The new rescue plan requires the FDIC to guarantee not just the new lending by banks but also unlimited deposits in special accounts used primarily by small businesses for things like payroll. Little wonder Bair is cautious: the new program is expected to cover $1.9 trillion, a stunning 42% increase in total FDIC guarantees. In a worst case, widespread losses under the new program would be covered by a special assessment on participating banks...