Word: fillips
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...recent estimate by Merrill Lynch also expects a 3% point addition to growth next year. In other economies today, that kind of growth would be unachievable. Whatever stimulus package finally gets put in place in the U.S., for example, is unlikely to add even one percentage point fillip to growth. But China, as it has proved repeatedly over recent decades, is different. It remains a unique mixture of raging, visible capitalism resting on a foundation of state-owned enterprises, which, the Merrill report points out, still account for 33% of industrial production and 45% of investment in China's cities...
...rolling and dyspepsia among the world's free market purists. But these are not normal times: on the weekend, U.S. President George W. Bush echoed Nicolas Sarkozy's push for an international summit to that end, and on Monday world markets seemed to endorse the initiative with a positive fillip. Though the specific goals, attendees, and even exact date and venue of such a meeting have yet to be determined, the mere agreement by U.S. and European leaders to update the Bretton Woods system - which has overseen international finance for the past 64 years - reaffirmed hopes that a collective, long...
...fillip of hope was exactly what leaders attending the euro group summit had hoped to inspire, but they were careful to note it was only a beginning. European Commission President José Manuel Barroso, for example, stressed the collective package "isn't of an immediate miracle", and many more trials and jittery nerves would have to be overcome before the nightmare of the past months would be over. Still, the mere framework of a strategy proved sufficient to calm the fear that that drove last week's panic-driven sell...
...despite having to deliver bad news to an already hurting public, Sarkozy had some reason for hope. Polls released early this week showed his approval rating rising to 40% in March from February's 37%, the low point in what had been his 30% drop since July. The fillip stemmed from Sarkozy's triumphant state visit to London last month, where his sober demeanor impressed a French public that has wearied of his taste for flash. The "re-presidentialization" of his image seemed to be winning back many of the conservative voters turned off by Sarkozy's earlier "bling-bling...
...detailed, more sophisticated than her opponents' - and very, very smart politically. Just before our interview, Clinton gave a speech launching her energy-independence proposal. It would drastically reduce greenhouse-gas emissions by auctioning off permits to pollute and is similar to Obama's - but Obama has added a fillip of honesty by telling his audiences that the program might result in higher energy prices. I asked Clinton why she hadn't been similarly honest, and she immediately turned it around: Obama wanted to spend the proceeds of the pollution auction - perhaps as much as $50 billion - on alternative-energy research...