Word: demanding
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...Early, Act Often After the bubble burst, Japan's powerful bureaucrats, who had earned a reputation for brilliance in the 1980s, dithered for years. In the face of slumping demand and price deflation, they cut interest rates too slowly, delayed a fiscal stimulus and failed to restructure so-called zombie banks, whose bad loans made them dead in all but name...
...Stick with the Program Early action, however, is just the beginning. Japanese policymakers have learned the hard way that it takes years to leach toxic assets out of a financial system and restore confidence so that consumers shop rather than stash their money in safe-deposit boxes. While domestic demand remains sluggish, government spending has to take up the slack and keep at it. In Japan, a recovery was aborted in the late 1990s when, at the first sight of green shoots, the government raised taxes. President Barack Obama is committed to reducing this year's federal budget deficit...
...This Together After a decade in the tank, Japan's economy started to recover around 2003, buoyed by spectacular growth in China and the U.S. This year's slump is correlated with the collapse of external demand; in January, Japan's exports were down an astonishing 46% compared with the previous year...
...Bill Clinton has amassed tens of millions on the podium--a fact that briefly imperiled his wife's nomination to be Secretary of State. Senior staffers like Henry Kissinger and presidential also-rans Al Gore and Rudy Giuliani have also parlayed political power into riches. Bob Dole, in lesser demand after getting trounced by Clinton in 1996, became a TV pitchman for everything from debit cards to erectile-dysfunction pills. Further evidence, perhaps, that it's good to be the boss...
...sweet, symbiotic relationship: the annual pilgrimage keeps California's $2.2 billion almond industry ticking and is a huge moneymaker for more than half the country's commercial beekeepers. But this year, some worry that relationship is starting to sour. Driven by surging global demand, California's almond growers have doubled acreage since 1981, forcing them to lean heavily on imported bees from as far away as Vermont. Drive along the unlined roads around Hughson, and it's easy to find 10 different almond farmers renting hives from 10 different states. Orin Johnson, whose family has been keeping bees around Hughson...