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...most common source of funding in Zhejiang comes from investment pools, called hui, run by people like Xu Shoucong. This past March, Xu's family organized 17 people to create a fund that rotates credit to all participants, who use the cash for anything from weddings to starting small businesses. Huis loosely resemble microfinance schemes of the kind made famous by the Grameen Bank in Bangladesh, and millions of people participate in Zhejiang and neighboring Fujian province. Because the pressure to repay derives from social networks that are as strong as rebar in Confucian China, borrowers rarely default...

Author: /time Magazine | Title: China's Shadow Banks | 11/15/2004 | See Source »

Fonseca wrote that students may eventually get course credit for both academic and social work, coordinated through the office...

Author: By Anna M. Friedman, CONTRIBUTING WRITER | Title: Harvard to Open India Office | 11/15/2004 | See Source »

...Penn coach Al Bagnoli said. “We tried to do it coming out at halftime, let him get really loosened up before kickoff and then go out there, give him some throws, see if he can make some plays. I give him a tremendous amount of credit because he probably lied to us and said he felt fine, but he probably wasn?...

Author: By David B. Stearns and David H. Stearns, CRIMSON STAFF WRITERS | Title: McDermott's Collarbone Just Not Quite Healed | 11/15/2004 | See Source »

...European Central Bank should "do its part to calm the situation." But don't expect large-scale international intervention anytime soon; the U.S. shows no signs of being unhappy about the trend. Still, ECB president Jean-Claude Trichet "is caught between a rock and a hard place," reckons Credit Suisse First Boston economist Neville Hill: buoyant oil prices are contributing to higher inflation, but the bank can't raise rates because that would further strengthen the euro. Right now, the most Trichet can do is complain. Dividing to conquer? Could an antitrust cease-fire between Microsoft and its most bitter...

Author: /time Magazine | Title: Bizwatch | 11/14/2004 | See Source »

...equation. But most people-rightly-do not believe that a President can do much to stem the outflow of manufacturing jobs. Universal health care seems a pipe dream too. Indeed, Kerry's offering a $1,000 reduction in health-care premiums and a $4,000 tuition tax credit while he also promised to cut the budget deficit sounded like political flimflam...

Author: /time Magazine | Title: The Values Gap | 11/13/2004 | See Source »

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