Word: centralized
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...Reading ‘The Tempest,’ debating Aristotle’s ethics or choreographing a dance are supremely practical activities," he said. "They provide the experiences of beauty and shared meaning which are central to building a more just world...
...sanctions will be determined by the Russians and Chinese, who have not been willing to exert much pressure in the past. The President has stopped pursuing the European antimissile defense system, which should please the Russians - and he has reminded the Chinese that we face a common enemy in central Asian Islamic extremism. But that doesn't guarantee either country will be willing to get tougher on the Iranians. (See pictures of Afghanistan's Kunar province...
...large number of Chinese buyers means growth in Hong Kong's luxury-property market could suddenly cool if Beijing decides to tighten credit. Su Ning, vice governor of the mainland's central bank, said last week that China would continue its "appropriately loose" monetary policy at least into next year, but regulators have already started to clamp down somewhat. In August, total lending by Chinese banks dropped to a third of June's levels...
...coming elections will determine how Germany decides to nurture its fragile recovery and address other central questions of economic policy. If Merkel manages to form her preferred coalition with the FDP, the new government would be less likely than the current grand coalition to intervene to bolster big industry, choosing to stimulate the economy instead with tax cuts and investment incentives. As Germany is the world's fourth largest economy and second biggest exporter, its economic management is of global concern. And with little change expected to Germany's foreign policy, the rest of the world will likely pay closer...
...where Kyoto failed: getting governments to agree on enforceable reductions in carbon emissions. Earlier this summer, Beijing said it would commit to outright reductions of its CO2 emissions more than 40 years from now - by the year 2050. That two-generation time frame, which disappointed some critics, reflects a central reality in China. A lot of its leaders (not to mention its citizens) are deeply distrustful of the extreme rhetoric coming from the West on climate change. They see the developed world as having gotten rich one way and trying to change the rules just as China...