Word: china
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Dates: during 2000-2009
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...China's leaders are using the financial crisis as an opportunity to consolidate gains already made in the country's global competitiveness while laying a foundation for even greater progress in the future - and for the international power that economic prowess can bring. Nationalist voices in the media are already framing the crisis as a transformational moment in China's rise and the decline of the U.S. "They've criticized the dollar and asked for a new global reserve currency. They've criticized the U.S. role in the International Monetary Fund," says Beijing-based China scholar Russell Leigh Moses. Premier...
...economy like China's, which is the world's third largest but is still just a third the size of the U.S.'s, the scale of the package is staggering. Total new spending is pegged at $586 billion, about 16% of GDP. In contrast, the $787 billion stimulus package approved by the U.S. Congress in February is just 6% of GDP. While upwards of 75% of Chinese spending will go toward infrastructure, just 10% of U.S. spending will. The difference to an extent reflects the fact that the nations are at different stages of economic development: America's railroad networks...
...where the money will go and that some of the funding is not new: the package, for example, includes $147 billion for reconstruction in areas of Sichuan province that were devastated by a 2008 earthquake, money that would have been spent in any event. But wherever you go in China now, you come across projects that boggle the mind. In late March, for example, the government began soliciting bids for the Hong Kong - Zhuhai - Macau highway, a bridge-and-tunnel complex 16.5 miles (26.6 km) long that will allow connections among 35 ports in the Pearl River Delta, the cradle...
...pictures of China's earthquake...
...pictures of China doing business in Africa...