Word: exporting
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Dates: during 2000-2009
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...message consistent. For example, he has indicated that, in the interest of fiscal responsibility, he may toss overboard some of the $77 billion in programs that the DPJ offered to increase household disposable income. The purpose of this spending is to help shift Japan from an export-led economic model to one led by consumption. During the country's 2002-07 recovery, fully one-third of GDP growth was attributable to a rising trade surplus. As the severity of Japan's current recession showed, this is not a sustainable path. (Read Will an Opposition Victory Rescue Japan's Economy...
...full capacity, the port is expected to export about 6.7 million tons a year of liquefied natural gas to Asia, Europe and the U.S., earning between $30 billion and $50 billion for Yemen's government over the next 25 years. That's an attention-getting number for any economy. Another notable figure is 500. That's the number of Yemeni soldiers who were hired to guard the heavily fenced facility and pipeline. Because in a country as unstable as Yemen, any symbol of progress is a target...
...just indiscriminate bank lending that has retarded moves toward rebalancing. Outright government subsidies to businesses have increased in the past 12 months. Everything from bicycle makers to textile producers to chemical companies have seen their export subsidies rise because their markets worldwide were shriveling, and a panicky Beijing was spooked by the prospect of massive unemployment if factories shut down. "By transferring wealth from households to boost the profitability of producers, China's ability to grow consumption in line with growth of the nation's GDP is severely hampered," says Michael Pettis, a finance professor at Peking University's Guanghua...
...cost of imports while subsidizing Chinese producers who sell their products overseas. As the dollar has declined in value in the past year, so has the RMB - making Chinese goods cheaper in the international marketplace. In other words, China's peg has helped it maintain its share of global export markets at the expense of other countries who let their currencies float. That's exactly the opposite of what needs to happen if rebalancing is to occur. (See pictures of the best-selling cars in China...
...Bernanke gave a speech in which he said that while personal savings in the U.S. is now rising, the government had to get its own accounts in better order. He then pointedly noted that "policies that artificially enhance incentives for domestic savings and the production of export goods" have got to go in order "to reduce the risks of [future] financial instability...