Word: china
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Dates: during 2000-2009
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...China has been on an unconventional and unexpected journey that began after the tragedy of Tiananmen Square 20 years ago. The U.S., after half a century of global economic dominance, finds itself at a crossroads, unable to generate the growth that so many Americans expect and the services so many need, and still struggling to revitalize an economy that for so many years was the envy of the world. The U.S. has been accumulating debt and owes about $800 billion to China alone; China has been building reserves and now has in excess of $2.2 trillion. China remains a poorer...
Nonetheless, as Obama returns to pressing domestic issues and international flash points such as Iran and Afghanistan, two awkward numbers linger in the background: 3.5 and 8.9. The first is the rate of growth for the U.S. in the third quarter of 2009; the second is how fast China grew. And while GDP statistics are a flawed indicator, the contrast between the two economies remains stark...
Both Chinese and Americans view their economic interdependence warily. Yet in many respects the relationship has been mutually beneficial and may have been the primary reason the financial crisis did not result in a worldwide Great Depression. China was able to spend aggressively because for 20 years U.S. businesses had been investing in the Chinese economy, building factories, adding liquidity to Chinese banks, opening stores ranging from Avon boutiques to Kentucky Fried Chicken outlets, making cars, selling power turbines and semiconductors - all of which were essential to the rapid urbanization and modernization of China and the emergence of a vibrant...
Scrap Metal and Bridal Gowns You could throw a dart at a chart of S&P 500 companies and come up with a China story. Intel is spending hundreds of millions of dollars to build a gleaming new factory in the northern Chinese city of Dalian. Nike signed up Chinese basketball wunderkind Yao Ming and then a gaggle of élite Chinese athletes to become the most popular sports brand in the country, growing 22% this year in China compared with barely 2% in the U.S. FedEx invested billions in logistics in China and the Pacific Rim, not just enabling...
...benefits have flowed in both directions. Take Walmart. By some estimates, over the past several years, the retailer alone has accounted for 15% of U.S. imports from China, which would mean in excess of $30 billion this year. As those goods enter the port of Long Beach, Calif., they require American workers to offload them, American trains and trucks to ship them and American workers to sell them. None of those facts are visible in the trade statistics, yet they are real. And take a company like Schnitzer Steel of Oregon, a once regional company that collects and sells scrap...