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What are Europe's ideals? Democracy. Human rights. Wanting to see stable, secure nations, with whom we enjoy political dialogue and economic relationships. (Read: "Denial and Anger in Italy...
...thing straight: Europe is a remarkably good place to live. Many of the E.U.'s member states are among the richest in the world. Workers in Europe usually enjoy long vacations, generous maternity leave and comfortable pension schemes. Universal health insurance is seen as part of the basic social contract. Europe is politically stable, the most generous donor of development aid in the world. Sure, taxes can be high, but most Europeans seem happy to pay more to the state in return for a higher - and guaranteed - quality of life. "The E.U. offers an attractive social, economic and political model...
...think of the E.U. as a counterweight to Washington and now Beijing: a big, rich, but more benign global power. Ask Catherine Ashton to define Europe's ideals, and her aspirations are far from modest: "Democracy. Human rights," she says. "Wanting to see stable, secure nations, with whom we enjoy political dialogue and economic relationships...
...will be years before China has a consumer-driven economy like that of the U.S., but with retail spending rising by double-digit percentages every year, the immediate future looks good. For the most part, the companies poised to enjoy the splurge will not be multinational but Chinese. They know their home market, and how to overcome its obstacles. Some also offer instructive examples for foreign enterprises keen to ride the growth of Chinese consumer culture. Here are four: (See pictures of China's infrastructure boom...
...sickest patient," are at the root of the problems. In a country of 11 million people, nearly 850,000 workers are employed by the state--the country's biggest companies are state-run or -managed. They get generous perks, like 14 paychecks a year instead of 12. Many enjoy a workday that runs from 7:30 a.m. to 2:30 p.m. "The state has an irrational control of the economy," says Yannis Stournaras, director of research for the Foundation for Economic & Industrial Research, a nonprofit, independent think tank. "We need nothing less than a revolution in the public sector...