Word: centralizes
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...wake of the earthquake was on an epic scale, and perhaps for the first time in the history of this republic, secrecy was replaced by transparency, and bureaucracy was outpaced by efficiency. The blood-stained backpacks amid the debris of collapsed school buildings were a rude reminder to central government that a more intensive crackdown on multilevel corruption is needed. The Chinese people have empowered themselves through their volunteerism and compassion. However, their lives - and livelihoods - will remain shaky until the authorities truly understand that "Each man's death diminishes me, / For I am involved in mankind." Daan Pan, DIAMOND...
...Despite that economic muscle, it's unlikely to offend anyone, not least because it's unusually open about its agenda. The fund's managers publish an annual report making clear their interest in financial - not political - returns. And with Norway's central bank left alone to run the fund, the role of the country's government - in deciding its broad strategy and monitoring its performance - is clearly defined. Such measures have made the fund the industry's gold standard. In a recent study by the U.S.-based Peterson Institute for International Economics, Norway's fund scored 100% for governance...
...benefit from their cheap labor, future employers will lose out. For Norway's fund, it's a concern - both ethically and economically - that "the action of one company may influence the profitability of another," says Yngve Slyngstad, CEO of Norges Bank Investment Management, the part of Norway's central bank that runs the fund...
Foreign companies were the buyers in four of the top 13 U.S. commercial real estate deals in 2007, according to Real Estate Alert newsletter. Another foreign acquisition of notable Manhattan real estate was the Dubai-based Jumeirah group's 2006 purchase of the Essex House on Central Park South...
...number of households going hungry has doubled in one year. "The government understands and shares with the people," Dung said. "And sees it is their responsibility to try to best curb inflation." So far, Hanoi has moved to cool the economy by requiring banks to increase their reserves; the central bank has also raised interest rates to 12%. But inflation is being made worse by Vietnam's weakening national currency. The Vietnamese dong has fallen roughly 1.5% against the dollar in the past six months. But the recent dismal economic news is threatening to weaken it further. This past week...