Word: downturns
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...badly Asia will feel the effects of the U.S. slump depends on its depth and duration. A mild, relatively short U.S. downturn might not be entirely a bad thing in the country that's become the world's second growth engine: China. Most economists believe inflation remains China's biggest risk going forward, and a slow down in the export sector - now unavoidable - could actually do the People's Bank of China's work for it: cool the economy a bit without the need for another rise in interest rates. (The PBOC raised rates six times...
None of this will have much impact, though, on long-run big issues like U.S. competitiveness, the state of the middle class, etc. For example, if the world economy is able to shrug off a U.S. downturn--a big topic of debate among economists at the moment--it would be a sign that America's global role has been permanently downgraded. But it won't be the doing of the recession, which is, remember, just a passing phenomenon...
Despite several campaigns over the past 20 years to create a program in Asian-American studies, Harvard remains without a single full-time professor in the field. But while this gap may take time to fill given the recent downturn in humanities faculty hiring, improving Harvard’s pedagogical offerings in Asian American studies would be far easier. While we support the creation of an Asian American studies track for secondary concentrators in East Asian studies—a move that seems increasingly likely—the creation of such a secondary field would open up the door...
...additional science funding, which will come from the Harvard University Science and Engineering Committee (HUSEC)—the body charged with overseeing University-wide science initiatives—will offset a recent downturn in national grant money...
Since the early 1980s, with the exception of that brief downturn during the recession of 1990-91, consumer spending in the U.S. has risen every quarter. Over that period, our pocketbooks have come to commandeer an ever greater portion of the economy, from 62% of gross domestic product (GDP) in 1981 to 70% now. Spending by U.S. consumers accounts for 19% of global economic activity...