Word: digitalizing
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Dates: during 2000-2009
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...November, the plant closed. He is a victim of an economic transition - a move away from the low-end, low-wage, export-oriented manufacturing on which much of China's rapid growth was built - that has been made more urgent by the global economic crisis. As China's double-digit growth rate plummets, thousands of factories are being shut down and millions of workers are being thrown onto the streets. They will need jobs in the years to come, and the Chinese government is scrambling for an answer to Zhang's plaintive question as he prepares to return...
...will prove arduous if not impossible. Last month China's exports, a major driver of the world's fourth-largest economy, fell by 2.2% compared with November, 2006. The result marked the country's first decline in exports in seven years and was a sharp reversal of the double-digit growth rates manufacturers have typically posted in recent years. The drop was "a shock figure," says Ben Simpfendorfer, the Hong Kong-based chief China economist for the Royal Bank of Scotland. "I had expected exports to collapse in the final few months but not to this extent. There really...
Highlight Reel:1.Manufacturing and Labor: When it comes to automotive parts and major equipment in New England, folks ain't interested. Companies there reported double-digit sales declines since last winter, with some firms describing the market as "the worst they can remember." Nearly half of the manufacturers surveyed said they expect their profits to decline through the end of 2009. "The outlook," the Book notes, "is pessimistic." One Boston respondent told Fed officials that the economy's "bearish mood" has even spread to the higher-education sector. Staffing centers are gloomy on the East Coast; says one contact,"Everybody...
...Crimson defense forced an opponent miss. Harris fought for a loose ball on the offensive end, forcing a a jump ball with the arrow to Harvard. With the ball, freshman guard Max Kenyi penetrated and kicked out to Housman, who downed a three to give his team a double-digit lead at 52-42. The Crimson defense stayed firm, making the Black Knights shoot blanks on their next three possessions, with Harris scoring a layup and Housman draining two free throws with 6:27 left to complete the run, bringing the score to 56-42. “[Before...
...large crowd when doors opened Friday morning, said Tarek Hassan, the owner of Concepts and nearby Tannery boutiques. “You have to go outside the box to make sales in an economy like this,” said Hassan, who said his stores have posted single digit growth in the past month. At the Tannery bold red tape announced discounts from 20 to 50 percent on the store’s wares. At the Harvard Coop, University President Drew G. Faust was spotted with her daughter Jessica Faust ’04. The Civil War historian looked through...