Word: creations
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...major companies to be privatized and traded on public stock exchanges. It is the largest owner of U.S. Treasuries in the world and a major investor in private businesses through its sovereign wealth fund. The Chinese banking system has clearly been developed by the government to encourage the creation of private enterprise. Parts of the financial and commercial structure of China are still owned by the state, but the government's once-famous totalitarian grip on the economy appears to be loosening some each year...
...most important business dynamic that works against job creation in an economy dropping this quickly is the fact that every worker is a consumer. Layoffs set in motion a vicious cycle that undermines a major pillar of any expansion. Consumer confidence drives the process that is the largest single component of GDP. In this recession, the trouble is compounded by an unprecedented lack of access to credit because of housing prices and the near failure of the banking system. (See pictures of office cubicles around the world...
...much of an impact the programs are expected to have on the middle class as a whole. Annie Tomasini, Biden's deputy press secretary, says the Philadelphia meeting was just a "listening session" and that the task force will not actually make any decisions regarding green job creation. They'll have to go back to Washington to do that...
...Tuesday, Clinton met with Abbas to reaffirm Washington's support for the creation of a Palestinian state. But Clinton's aides had briefed her on Abbas' woes: nearly half his domain - Gaza - remains in the grip of Islamists Hamas, and even in his West Bank stronghold, his popularity has taken a dive for his failure to gain any concessions on the issue of Israeli settlements...
...trip was a breeze compared with what awaits Clinton next time. If Netanyahu forms a government, which is likely, he and Clinton are likely to clash over reviving the peace process. Netanyahu will have a powerful argument on his side: if he tears up campaign vows and backs the creation of a Palestinian state, as the Obama Administration wants, his right-wing-coalition partners would walk, plunging Israel into a state of political uncertainty...