Word: economisters
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...that of all other Asian stock exchanges combined, a first. There are even reports of retail investors borrowing against newly purchased apartments or houses-shades of Japan in the late 1980s-to buy stocks. "I'm afraid this thing is in its final frenzy," says Andy Xie, an independent economist in Shanghai. "People are going to get hurt...
...little guys are in danger of losing their savings. It's whether a serious market downturn might blunt, or even reverse, China's growth. Mainland authorities have already made it clear that they are concerned about economic overheating, "and the stock market is part of that picture," says an economist at the China Academy of Social Sciences (CASS). On May 18, China raised interest rates for the second time in two months, marking the first time in 17 years that the government had stacked rate increases on top of each other so quickly. Beijing also announced that banks would have...
...stanching of the flow of believers out of the Catholic Church is great news for the new Pontiff - and an unexpected one, given that the decline has been going on since records began in 1872. "The surprise is the stabilization of the number of Catholics," said Marcelo Neri, an economist at the Getulio Vargas Foundation, a top Rio business school who helped author a study based on the government data. "Catholics haven't attracted more faithful, but they are no longer losing their flock...
...right: a Princeton economist or a handful of Harvard undergraduates...
...World Bank isn't that desperate, but it faces similar pressures. Both organizations were created in 1944 by the soon-to-be-victorious Allied powers. At the time, says Harvard professor and former IMF chief economist Kenneth Rogoff, "global financial markets barely existed, and domestic financial markets barely existed in Europe...